Indian Markets Outlook for the week – 27.Jul.2015 to
31.Jul.2015
(Major events closely tracked during next week; negative bias)
( www.rupeedesk.in )
31.Jul.2015
( www.rupeedesk.in )
A
bearish bias is seen prevailing in benchmark indices in a trigger-heavy week
ahead. Companies Apr-Jun earnings, the ongoing Monsoon Session of Parliament,
expiry of July derivatives contracts, and the US Federal Open Market
Committee's monetary policy meeting are some of the major events which will be
closely tracked during the next week.
The
overall market sentiment seems to be low owing to lack of progress on key bills
in the ongoing Parliament session. If you observe in the past three days,
indices weakened only in the second half of the trading session. This is
because the Parliamentary houses kept getting adjourned and policy markers are
taking too long to pass key bills on Goods and Services Tax and land
acquisition.
Most
Nifty companies have posted poor Apr-Jun earnings so far. Banks, which form a
major portion of Nifty constituents, have reported higher non-performing assets
and provisions this quarter as well, "Earnings of major sector-leaders
will be key in setting market trend for next week.
Ambuja
Cements, Tech Mahindra, Maruti Suzuki India, Punjab National Bank, Vedanta, YES
Bank, Bank of Baroda, Dr Reddy's Laboratories, ITC, Kotak Mahindra Bank, NTPC,
ICICI Bank, and Larsen & Toubro are among the Nifty constituents posting
Apr-Jun earnings next week.
Shares
of Bharat Electronics, Agro Tech Foods, Geojit BNP Paribas Financial Services,
and State Bank of Bikaner and Jaipur will also be in focus as they are yet to
report Apr-Jun earnings today.
Andhra
Bank, Havells India, Indian Overseas Bank, Persistent Systems, and Pfizer will
detail their earnings for the reporting quarter on Saturday. Investors will
also await details on Justice A.P. Shah Committee's final report on Minimum
Alternate Tax. The authorities are meeting today, but the government may only
announce its stance on the issue after Supreme Court gives its verdict on the Castleton case.
The
Supreme Court is slated to give its order on a plea filed by Castleton
Investment against
minimum
alternate tax demand on Aug 4. The Bombay High Court has also stayed the
hearing on Aberdeen Global Emerging Markets' plea against Minimum Alternate Tax
demand till the Supreme Court gives its verdict the Castleton case.( www.rupeedesk.in )
