Indian Market Outlook For The Week - 24 To 28.12.2018
Benchmark equity indices are seen taking cues from the outcome of the GST Council meet, scheduled for Saturday, on Monday as as the Council may take up the issue of reducing the goods and services tax to 18% from 28% on a range of goods. While the Council may cut GST on air conditioners, computer monitors, and large television sets to 18%, the proposal to reduce the tax rate on cement is not there. In July, the council had discussed cutting the GST on cement, but deferred the decision due to opposition from most state governments. On Monday, investors will also monitor yesterday's movement in the US markets. On Thursday, markets in the US closed nearly 2% lower on fears of a partial shutdown of the government. US indices fell sharply intraday as the US House of
Representatives Speaker Paul Ryan announced that President Donald Trump has declined to sign the
appropriations bill because it did not had enough funding for the wall along the southern border.
Volatility is seen in the market ahead of the expiry of the December derivative series on Thursday. In
the coming week, volumes are seen thin as foreign investors may have closed all their existing
positions, before going for vacations. Yesterday, Nifty 50 closed at 10754, down by 197.70 points or
1.8%. Sensex closed at 35742.07, down by 689.60 points or 1.9%. While losses in the index majors
like Infosys, Reliance Industries, and Tata Consultancy Services weighed on the indices, weakness in the global markets on the back of political instability in the US pushed the indices deeper into red. Stocks of Voltas, Havells India, and Crompton Greaves Electricals will be in focus next week.
Source : Cogencis Information Services Ltd.
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Benchmark equity indices are seen taking cues from the outcome of the GST Council meet, scheduled for Saturday, on Monday as as the Council may take up the issue of reducing the goods and services tax to 18% from 28% on a range of goods. While the Council may cut GST on air conditioners, computer monitors, and large television sets to 18%, the proposal to reduce the tax rate on cement is not there. In July, the council had discussed cutting the GST on cement, but deferred the decision due to opposition from most state governments. On Monday, investors will also monitor yesterday's movement in the US markets. On Thursday, markets in the US closed nearly 2% lower on fears of a partial shutdown of the government. US indices fell sharply intraday as the US House of
Representatives Speaker Paul Ryan announced that President Donald Trump has declined to sign the
appropriations bill because it did not had enough funding for the wall along the southern border.
Volatility is seen in the market ahead of the expiry of the December derivative series on Thursday. In
the coming week, volumes are seen thin as foreign investors may have closed all their existing
positions, before going for vacations. Yesterday, Nifty 50 closed at 10754, down by 197.70 points or
1.8%. Sensex closed at 35742.07, down by 689.60 points or 1.9%. While losses in the index majors
like Infosys, Reliance Industries, and Tata Consultancy Services weighed on the indices, weakness in the global markets on the back of political instability in the US pushed the indices deeper into red. Stocks of Voltas, Havells India, and Crompton Greaves Electricals will be in focus next week.
Source : Cogencis Information Services Ltd.
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