Indian Markets Outlook for the week – 11.08.2014 to 14.08.2014
( For Sectorwise Weekly Outlook Watch: www.rupeedesk.in )
Stock indices will take cues from
global developments in West Asia and Russia next
week, with the bias having turned
negative due to the sharp fall seen in the last three
sessions. Aside from the global
developments, market participants will also closely
watch movement of the rupee
against the dollar.
While some market participants
see no reversal in sentiment till these global concerns
abate, others said a bounce-back
may be seen at lower levels and one should adopt a 'buy
on dips' strategy. Investors are
advised to utilise the opportunity to buy into quality
stocks with strong management
pedigree. From a medium- to long-term perspective, we
are still in a bull market.
Next week, the National Stock
Exchange's Nifty is seen taking support at 7500 points.
But if the index breaches this
level, it is seen falling all the way down to 7400 points.
Resistance to the 50-share index
is pegged at around 7700 points.
On yesterday, Nifty ended at
7568.55, down 80.70 points or 1.1% from the previous
close. During the day, the index
slipped below the 7550 points to touch a low of 7540.10
points, and recorded a high of
7592.45 points.
S&P BSE's 30-share Sensex
ended at 25329.14, down 259.87 points or 1%. Sensex
touched a low of 25232.82 and a
high of 25406.87 intraday. Apart from global events,
market participants will watch
out for Apr-Jun earnings and economic data releases.
Among Nifty constituents, GAIL
India, Hindustan Petroleum Corp, Tata Motors, Bharat
Petroleum Corp, Coal India, NMDC
and Sun Pharmaceutical Industries.
Bosch, Jain Irrigation Systems,
Jet Airways India, Balaji Telefilms, Sadbhav
Engineering, Hindustan Petroleum
Corp, Jaiprakash Associates and United Breweries
Holdings, among others, will also
detail earnings.
On Tuesday, the Central
Statistics Office will release the Index of Industrial Production data for June and combined
inflation based on the Consumer Price Index for July.
( For Sectorwise Weekly Outlook Watch: www.rupeedesk.in )
