Capital Goods Stocks Outlook for the week – 22 to 26.06.2015
(Positive
consolidation next week)
After
broadly gaining this week, shares of capital goods companies are likely to
witness minor consolidation next week, but will overall trade with a positive
bias. Action will be seen more in the futures and options segment as the June
derivatives series will expire on thursday. Siemens was the top gainer in the
pack, registering 6% weekly gains, followed by Larsen & Toubro that rose
3.5% in the week.
However,
one stock that bucked the trend was Bharat Heavy Electricals that ended the
week with nearly 3% losses. Yesterday, build-up of short positions was seen in
the June futures contract as the open interest was up 3.5%. The stock ended
down nearly 1% in the cash market.
