Indian Markets Outlook for the week – 27.10.2014 to 31.10.2014
( www.rupeedesk.in )
Benchmark share indices are
expected to move in a narrow range next week as action may be
largely stock-specific with
Jul-Sep earnings reports coming in from companies. Today the stock
market closed for Bali Pratipada.
Global developments may also move the market, and will be
closely watched by investors.
For next week, on the global
front investors will wait for cues from (US) Fed on interest rates.
Also, the Fed is expected to end
stimulus. Further cues from the European Central Bank on
stimulus will be awaited.
On the domestic front, the
formation of a new government in Maharashtra may also affect the
course of the market next week.
The bias is slightly positive after the National Stock Exchange's
50-share Nifty closed above the
8000-mark for the first time since Sep 24.
Indian stock exchanges had
special Muhurat trading for Diwali yesterday. Yesterday, Nifty
ended at 8014.55, up 18.65 points
or 0.2% from close Wednesday, and S&P BSE's 30-share
Sensex closed at 26851.05, up
63.82 points or 0.2%.
Both Sensex and Nifty have gained
around 27% each from last Diwali and market participants
hope that the fireworks will
continue in the backdrop of optimism that the new government will
bring in more investor-friendly
reforms and bring India back to the growth path.
Besides other things, Jul-Sep
results of companies will lend direction. Among Nifty constituents,
Hindustan Unilever, Lupin, Dr
Reddy's Laboratories, Grasim Industries, Sesa Sterlite, Tech
Mahindra, ACC, Ambuja Cements,
Bharti Airtel, ICICI Bank, IDFC, Maruti Suzuki India,
Mahindra & Mahindra, NMDC and
NTPC will detail their earnings over the next week.
Stocks of banks are expected to
rise next week, with private banks gaining more than their
public-sector peers. The Bank
Nifty is seen moving in the range of 16000-16950 points.
Auto companies are also seen
rising further on expectations of robust sales on Diwali.
Wipro shares may see some more
weakness as the technology major posted disappointing quarter earnings. Yesterday, the
stock ended down nearly 4%.
