Indian Markets Outlook for the week – 15.Jun.2015 to 19.Jun.2015
(Stock indices are seen extending losses)
(Stock indices are seen extending losses)
( www.rupeedesk.in )
Stock
indices are seen extending losses as sentiment remains bearish after they ended
at eight-month lows Thursday. According to provisional data on the National
Stock Exchange website, foreign institutional investors net sold Indian stocks
worth 6.23 bln rupees on Thursday.
The
Fed (US Federal Reserve) meeting next week, bad earnings, rise in crude and weak
rupee are all cumulatively weighing on the market. Some caution during the day
is expected ahead of the industrial output data for April and headline
inflation rate for May, which are due after market hours.
India's
headline inflation rate, based on the new Consumer Price Index (Combined), is
likely to inch up to 5.0% in May on the back of higher fuel and vegetable
prices. Industrial production growth is likely to ease to 1.3% in April,
despite a low base, due to poor core sector output, weak exports and manufacturing
activity.
Among
individual stocks, shares of Reliance Industries may be under pressure as the
Bombay High Court Thursday refused the company's plea to restrain shareholders
from making allegations, ranging from siphoning of funds to physical
restraining of a shareholder, in company's annual general meeting.
Product
approvals from US Food and Drug Administration for Lupin and Orchid Chemicals
& Pharmaceuticals are set to take their shares higher.
( www.rupeedesk.in )
