Indian Market Outlook For The Week – 28.05.2018 To 01.06.2018

Indian Market Outlook For The Week – 28.05.2018 To 01.06.2018

             Equity Cash/Futures/Options Segment 

The coming week may turn out to be a turbulent one for local equities as the May derivatives series is set to expire on Thursday, and many companies will detail their Jan-Mar earnings. Fluctuation
in crude oil prices and the rupee, as well as developments related to US-North Korea are likely to add to volatility. Stocks of Nifty 50 companies like Coal India, Mahindra & Mahindra, Larsen & Toubro, NTPC, Oil and Natural Gas Corp, Power Grid Corp of India and Bharat Petroleum Corp will be in focus as they will report earnings. Investors will also watch out for any developments related to fuel prices. Recently, there have been reports of government intervention in pricing mechanism, lowering of diesel and petrol prices by at least 5% and upstream companies being asked to share subsidy burden. The May futures of the Nifty 50 may settle near its volume weighted average price level of 10650 points, if it is able to sustain above the 10400-point level. Yesterday, the index ended at 10605.15, up 91.30 points or 0.9% from the previous close. The S&P BSE Sensex closed at 34924.87, up 261.76 points or 0.8%. Stocks of automobile companies will be in focus as they will detail sales volumes for May. Shares of Tech Mahindra may gain as its Jan-Mar consolidated net profit was above estimates and operating margin improved 120 basis points on quarter. Investors will also eye the GDP estimate for Jan-Mar and 2017-18 (Apr-Mar) to be detailed by the Central Statistics Office towards the end of the week.

Source : Cogencis Information Services Ltd.

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