Indian Markets Outlook for the week – 27.04.2015 to 30.04.2015
Domestic
indices are expected to trade with a negative bias next week with concerns over
minimum alternate tax, weak rupee and disappointing corporate earnings weighing
on sentiment. Investors will watch out for companies detailing their Jan-Mar
results, and the expiry of the April futures contract.
ICICI
Bank, Bharti Airtel, Maruti Suzuki, Idea Cellular, Ambuja Cements, Housing
Development Finance Corp, Sesa Sterlite, Axis Bank, and IDFC are some of the major
companies that will detail their earnings next week. UltraTech Cement will
detail its Jan-Mar earnings on Saturday.
On
the global front, the outcome of the US Federal Open Market Committee's two-day
monetary policy meeting on Wednesday will be closely watched for cues on when
the central bank plans to start hiking interest rates. Progress on Greece's
debt talks will also be watched es Euro area's finance ministers are scheduled
to meet in Brussels today to discuss repayment of the country's massive debt.
Indices
yerterday closed near their crucial support levels and a breach of those levels
could see them falling sharply. We expect our view 8250 points as a crucial
support for the National Stock Exchange's Nifty.
Yesterday,
the 50-stock Nifty ended at 8305.25 points, down 93.05 points or 1.1% from
Thursday after moving between a low of 8273.35 and a high of 8413.30 intraday.
The 30-share Sensex closed at 27437.94, down 297.08 points or 1.1%. During the
day, the index touched a low of 27344.70 and a high of 27829.11.
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