Indian Markets Outlook for the week – 1.Aug.2016 to 5.Aug.2016
( www.rupeedesk.in )
( www.rupeedesk.in )
(Monsoon Session, earnings key triggers next week)
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FMCG Stocks Outlook for the week – 01 to 05.08.2016 (Seen up on hope of Rajya Sabha passing GST bill)
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( www.rupeedesk.in )
Next week, investors will closely monitor proceedings at the monsoon session of Parliament, during
Next week, investors will closely monitor proceedings at the monsoon session of Parliament, during
which the Constitution amendment Bill for the goods and
services tax will be taken up by the Rajya
Sabha. Sources in the Congress today said that the party has
reached a broad agreement with the
government on the GST Bill, which is likely to keep
investors' sentiment buoyant.
However, with both the Nifty 50 and the S&P BSE Sensex
trading near their multi-month highs, there
may be a possibility of profit booking even if the Bill is
passed by the Upper House, as it seems to
have been factored.
The Nifty 50 is expected to find immediate support at 8500
points next week if traders sell equities in
case the Bill isn't passed by the Rajya Sabha. We believe
that the index faces immediate resistance at
8700 points, after ending the day at 8638.50, down 0.3%. The
S&P BSE Sensex today fell 0.6% to
28051.86 points.
The June quarter earnings of key companies next week will
also be in focus, though the run-up of
indices to multi-month highs has made some market
participants nervous. Next week, Tech Mahindra, HCL Technologies and Tata Power Co are the Nifty 50
constituents that will report their June quarter earnings. Apart from the three, InterGlobe Aviation, VRL
Logistics, Cadila Healthcare, Fortis Healthcare, Pfizer, and Tata Chemicals will also report
their quarterly numbers next week.
ICICI Bank will also be in focus, after reporting a net
profit of 22.3 bln rupees. The bank's asset
quality was largely stable, with gross non-performing assets
at 5.87% of total loans as of June-end,
against 5.82% a quarter earlier. The automobile sector would
also be in focus on Monday and
Tuesday, as companies in the sector report their sales
numbers for July.( www.rupeedesk.in )
