Indian Market Outlook For The Week - 17 To 21.12.2018

Indian Market Outlook For The Week - 17 To 21.12.2018

             Equity Cash/Futures/Options Segment 

Domestic equities are seen gaining next week due to expectations that the central bank will come out with a slew of steps to boost overall liquidity and ensure credit growth. We expect the Reserve Bank of India over the next few weeks to begin taking action over improving liquidity, and later also review the stringent regulation for stressed state owned banks. Soon after market hours yesterday, the RBI, in a statement, said its central board, under the chairmanship of Governor Shaktikanta Das, had deliberated on the RBI's governance framework and decided the matter needed further examination. It also said it reviewed matters relating to liquidity and credit delivery to the economy, and issues related to currency management and financial literacy. Next week, the Nifty 50 is seen in a range of 10500-11150, as investors await a positive trigger from the RBI's action on liquidity, which is seen as increasing lending by banks and non-banking finance companies. Yesterday, the Nifty 50 closed at 10805.45, up 13.90 points or 0.1% from its previous close, while the Sensex ended at 35962.93, up 33.29 points or 0.1%. Investors will also take cues from global markets, especially from a decision on US interest rates after the Federal Reserve's meeting on Tuesday and Wednesday, and a press briefing by Fed Chairman Jerome Powell on the likely policy outlook for next year. The pace of change in interest rates in the US in the future would be key to determining the long-term trend in global markets, as well as the appetite of foreign investors for emerging market assets.

Source : Cogencis Information Services Ltd.

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