Indian Market Outlook For The Week - 29.10.2018 To 02.11.2018

Indian Market Outlook For The Week - 29.10.2018 To 02.11.2018

             Equity Cash/Futures/Options Segment 

Gains in benchmark equity indices next week will depend on the developments in the global markets and Jul-Sep earnings amid concern over short-term money markets facing a liquidity squeeze. Next week, markets will monitor the developments in the US, which will track the GDP data for the third quarter, due for release yesterday. As per reports, US GDP growth may have slowed in the third quarter, but is likely to remain near its best pace since mid-2015. We will keep an eye on the GDP report to assess the US Federal Reserve's pace on rate hikes. However, a slow growth would add to the concern of slowing global growth amid rising trade tensions. The 10000-9950 point is a very crucial level for the Nifty 50 at this moment, any fall below this will trigger sharper correction. However, even as the broader theme of the markets now is sell-on-rise, with Diwali coming, some uptick in the markets is expected. The extreme volatility in the markets is expected to remain, until and unless there is strong earnings show and positive global triggers. Yesterday, the Nifty 50 index ended at 10030 points, down by 94.90 points or 0.9%, while the BSE-Sensex closed at 33349.31 points, down by 340.78 points, or 1%. Buying is expected to happen after such a sharp fall, it would not be surprising if we see foreign investors coming into the markets by December. Apart from global cues, we will also keep a watch on Jul-Sep earnings by corporates. Nifty 50 companies - Axis Bank, Bharat Petroleum Corp, Hindalco Industries, Hindustan Petroleum Corp, Housing Development Finance Corp, Indian Oil Corp, Larsen & Toubro, NTPC, Oil & Natural gas Corp, Tata Motors, Tech Mahindra and Vedanta will report their Jul-Sep numbers next week.

Source : Cogencis Information Services Ltd.

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