Indian Markets Outlook for the week – 29.Aug.2016 to 2.Sep.2016
(Seen subdued next week; Fed Yellen speech eyed)
( www.rupeedesk.in )
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Oil Stocks Outlook for the week – 29.08.2016 to 02.09.2016 (PSU refiners seen mixed; IOC, BPCL earnings eyed)
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US Federal Reserve Chair Janet Yellen's speech later today
and data on India's gross
domestic product for Apr-Jun, due to be released on
Wednesday, would be the major
triggers for domestic equities next week. It is likely that
equities will trade weak if both
events fail to provide a direction.
The market is awaiting comments from Yellen for a likely
course of action at its Sep 21
meeting. If there is an indication of a rate hike by the
central bank, foreign institutional
investors may sell on Monday. However, equities may gain if
investors see Yellen's
speech as dovish.
Next week, the Nifty 50 is seen finding support at 8500
points, a technically adding that
it faces resistance at around 8690 points. Yesterday, the
51-stock index ended 0.2%
lower at 8572.55 points, while the S&P BSE Sensex closed
at 27782.25, down 0.2%.
Market participants will also track the earnings of
companies such as Bharat Petroleum
Corp, Indian Oil Corp, and DLF for the quarter ended June.
BPCL is expected to report
a net profit of 21.49 bln rupees for Apr-Jun on Thursday.( www.rupeedesk.in )
