Indian Market Outlook for the week – 26 to 30.09.2016
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Domestic equities are likely to be volatile next week as traders roll over positions to the October derivatives contracts ahead of the expiry of the September series on Thursday. Market participants believe the index will face strong resistance at the psychological 9000-point mark. In a lacklustre session yesterday, the Nifty 50 and S&P BSE Sensex ended 0.4% lowers each at 8831.55 points and 28668.22 respectively. Investors, especially foreign institutional investors, booked profits after buying in the last two sessions. FIIs yesterday net sold shares worth nearly 3 bln rupees after net buying over 5 bln rupees worth of shares in the last two days. The underlying bias for equities, though, remains bullish as indices approach their lifetime highs. Some of sectors are being re-rated which is what the bull market does, and identifying those trends can lead to decent capital appreciation in those stocks. Market participants are upbeat about pharmaceutical, bank and energy stocks, and expect them to extend gains next week. The Nifty Bank index is expected to rise towards 20400 points next week, and if traders book profits then losses in the index are seen capped at 19700. Yesterday, the index ended at 19901.80 points, down 1%. Pharmaceutical stocks are likely to gain on optimism that regulatory issues around companies in the sector will be resolved in the next one year. On Monday, investors would focus on shares of real estate and infrastructure companies, hotels and hospitals as SEBI has made changes to norms for investing in real estate and infrastructure investment trusts.
Seen volatile next week before F&O expiry Thu
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Domestic equities are likely to be volatile next week as traders roll over positions to the October derivatives contracts ahead of the expiry of the September series on Thursday. Market participants believe the index will face strong resistance at the psychological 9000-point mark. In a lacklustre session yesterday, the Nifty 50 and S&P BSE Sensex ended 0.4% lowers each at 8831.55 points and 28668.22 respectively. Investors, especially foreign institutional investors, booked profits after buying in the last two sessions. FIIs yesterday net sold shares worth nearly 3 bln rupees after net buying over 5 bln rupees worth of shares in the last two days. The underlying bias for equities, though, remains bullish as indices approach their lifetime highs. Some of sectors are being re-rated which is what the bull market does, and identifying those trends can lead to decent capital appreciation in those stocks. Market participants are upbeat about pharmaceutical, bank and energy stocks, and expect them to extend gains next week. The Nifty Bank index is expected to rise towards 20400 points next week, and if traders book profits then losses in the index are seen capped at 19700. Yesterday, the index ended at 19901.80 points, down 1%. Pharmaceutical stocks are likely to gain on optimism that regulatory issues around companies in the sector will be resolved in the next one year. On Monday, investors would focus on shares of real estate and infrastructure companies, hotels and hospitals as SEBI has made changes to norms for investing in real estate and infrastructure investment trusts.
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