Indian Market Outlook for the week – 07 to 11.08.2017

Indian Market Outlook for the week – 07 to 11.08.2017

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Indian Market Outlook for the week – 07 to 11.08.2017 )

The Benchmark stock indices are likely to rise next week on positive cues, with investors awaiting the US July jobs data and a string of corporate earnings starting Monday. Global markets will track the data for cues on the US economy as the Federal Reserve's decision on future rate trajectory will depend on these figures. A strong rupee against the dollar, weak trend in global crude prices, and the fall in inflation are the factors that are working in favour of the Indian stock market, mainly the banking and financial sector. As long as bank stocks are continuing to rally, the benchmark indices
are likely to hit new highs. The stocks of the cement, automobiles, and metals sector are also likely to be in focus next week due to the strong sales numbers from these sectors. A host of Apr-Jun earnings of companies will be eyed next week. Tata Steel will report its results on Monday. On Wednesday, Aurobindo Pharma and Tata Motors will announce their Apr-Jun earnings, while GAIL India will announce its results on Thursday. Other leading companies which will announce their earnings next week are Bharat Petroleum Corp, Bank of Baroda, State Bank of India, Hindalco Industries, Cipla,
Sun Pharmaceutical Industries, Eicher Motors and Bosch. Stocks of state-owned companies and those of companies in Specified Undertaking of Unit Trust of India will also be in focus after the government launched the new exchange traded fund Bharat-22. The exchange traded fund comprises shares from six sectors--basic metals, finance, fast moving consumer goods, industries and utilities.

Source : Cogencis Information Services Ltd.