Capital Goods Stocks Outlook For The Week - 14 To 18.01.2019

Capital Goods Stocks Outlook For The Week - 14 To 18.01.2019

             Equity Cash/Futures/Options Segment 

Stocks of capital goods companies are likely to fall next week following the release of government data that showed the sector's output contracted in November. Sh ares of major capital goods companies fell 0.5-4% this week. The BSE Capital Goods index also fell 0.8%. Output of capital goods, considered a proxy for investment and consumer demand in the economy, fell 3.4% in November as against a rise of 5.7% in the corresponding period last year, according to data released by the Central Statistics Office post market hours. The sector's growth was at 16.8% in October. In the near term, shares of engineering major Larsen & Toubro Ltd are expected to rise due to robust order inflows. However, Siemens Ltd may fall further due to concern over the company’s small order book. In the broader market, benchmark indices are likely to trade in a narrow range, as investors are expected to wait for major companies to announce their Oct-Dec earnings.

Source : Cogencis Information Services Ltd.

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