Indian Markets Outlook for the week – 22.Jun.2015 to 26.Jun.2015
(Seen positive bias next week ahead of expiry)
(Seen positive bias next week ahead of expiry)
Equities
are likely to trade choppy with a positive bias next week ahead of the June
derivatives expiry on Thursday, with a crucial case on minimum alternate tax
also coming up for hearing during the period.
We
see the hearing of the petition of Scotland-based Aberdeeen Asset Management Co
as a crucial trigger for the market. The hearing was adjourned to Jun 22. We
believe that equities have corrected more than necessary and is now seeing
short covering.
Domestic
institutional investors are also buying as compared to their foreign
counterparts are selling and this is seen as a positive factor for the stock
market. The fall in Chinese equities, though, is seen as a positive for the
market. The Chinese market topping out is seen as a good sign for India. Expectation
is that FIIs will start buying or at least stop selling. Developments over
Greece will also be watched after the European Council President Donald Tusk
summoned heads of state and government of the euro area to meet in Brussels on
Monday.
We
though, expect some profit booking to take place in equities. The Nifty has
gained 3% over the week. Fast moving consumer goods companies are seen weak
next week as investors continue to be wary about food safety issues and
regulatory troubles.
( www.rupeedesk.in )
( www.rupeedesk.in )
