Indian Markets Outlook for the week – 25.Apr.2016 to 29.Apr.2016
(Earnings to set trend next week; Reliance in focus)
(Earnings to set trend next week; Reliance in focus)
Next
week, more momentum is likely to be seen in specific stocks rather than benchmark
indices, as several companies are scheduled to report quarterly earnings. Besides,
the April futures contracts will expire next week, which will introduce volatility
in equities.
Among
several other stocks, Reliance Industries will be on top of the radar for
investors as the index-major reports earnings later. The stock has seen very
little action in the past two-three sessions, indicating reluctance among
investors to take positions before the
earnings.
Even if earnings are positive, market participants see gains in shares of RIL capped
at 1,100.00 rupees. Yesterday, the stock ended down 0.2% at 1,038.95 rupees.
The
underlying bias for the market remains positive as benchmark indices have ended
in
the green for the second consecutive week, despite ending down today due to
profit
booking.
Market participants are bullish on the banking pack, especially the public
sector ones, and expect them to continue their northward journey next
week.
