Indian Markets Outlook for the week – 13.Jul.2015 to 17.Jul.2015
(Economic data and earnings eyed
next week)
( www.rupeedesk.in )
A host of factors such as
developments in global markets, corporate earnings for Apr-Jun, and
domestic economic data will lend
cues to benchmark indices next week. Data released post market
hours yesterday showed that
industrial growth in May came in at 2.7%, lower than the expected
4.0%. Inflation data for June,
based on the Consumer Price Index and Wholesale Price Index will be
detailed on Monday and Tuesday,
respectively.
We expect inflation based on CPI
is likely to have remained largely unchanged at 5.1% balanced by
the rise in vegetable prices and
moderation in fuel prices. Inflation based on WPI, meanwhile, is
likely to rise to a four-month
high of (-) 2.2% primarily due to a rise in vegetable prices.
On the earnings front, IndusInd
Bank, Zee Entertainment Enterprises, and ACC are the National
Stock Exchange's Nifty
constituents which will detail their Apr-Jun numbers next week. Other
companies include MindTree, NIIT
Technologies, HT Media, South Indian Bank, Cyient, DB Corp,
Mastek, Credit Analysis and
Research, CRISIL, NIIT and Federal Bank.
Globally, the movement in
overseas markets, particularly China will be watched. Developments in
Greece as it negotiates with its
creditors will also be tracked. The reforms package submitted by
Greece to creditors on Thursday
will be put before the Greek Parliament yesterday. The package will
be discussed at the European
Union summit over the weekend.
Share indices are seen moving in
a narrow range next week following this, with trader sentiment
remaining cautious to slightly
positive on the back of movement this week. Despite the turmoil in
global equities, Nifty and the
S&P BSE Sensex have ended with a loss of 1.5% each for the week.
The domestic stock market has
remained largely insulated in the current Chinese equity market
crash. FIIs (foreign
institutional investors) have started to turn positive on Indian equities of
late
while incremental fund flows
could continue in Indian equities.
