Indian market Outlook for the week - 07 to 11.11.2016
The next week is likely to start with some weakness in domestic equities but in the later days, the
tone for the markets will be set by the outcome of the US presidential election to be held on Nov
8/2016. Foreign institutional investors are likely to maintain caution ahead of the election results
in the world's largest economy, and domestic equities will track trends in global markets.
If the Republican nominee Donald Trump wins the election, equities globally are likely to fall further
as he has called for stringent trade norms for the US. This could hurt major exporting companies
worldwide. However, if Democrat nominee Hillary Clinton comes to power, it may lead to a
rebound in shares as she is expected to retain the current foreign policies.
The Nifty 50 fell for the third consecutive session yesterday, while the S&P BSE Sensex fell for the
fifth consecutive session. Both indices have fallen 2.4% this week.
Yesterday, the Nifty 50 ended at 8433.75, down 51.20 points or 0.6% from the previous close while
the S&P BSE Sensex closed at 27274.15, down 156.13 points or 0.6%. The Nifty 50 is likely to trade
in the range of 8280-8600 points. The next major support is at 8300 in Nifty index while in case of
rebound, 8500 would now act as hurdle," Jayant Manglik, president of retail distribution at Religare
Securities, said in a note.
Besides the US election outcome, earnings for the Jul-Sep quarter will also provide cues for share
indices next week. Cipla, ICICI Bank, Lupin, Mahindra & Mahindra, Power Grid Corp of India, State
Bank of India, Sun Pharmaceutical Industries, Bank of Baroda, Bharat Heavy Electricals, Bharat
Petroleum Corp, Bosch, and Hindalco Industries are the Nifty 50 constituents scheduled to detail Jul- Sep earnings next week.
The negative bias for domestic shares was evident as FIIs net sold shares worth 3.43 bln rupees
today on the Indian stock exchanges, according to provisional data on the National Stock Exchange.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
tone for the markets will be set by the outcome of the US presidential election to be held on Nov
8/2016. Foreign institutional investors are likely to maintain caution ahead of the election results
in the world's largest economy, and domestic equities will track trends in global markets.
If the Republican nominee Donald Trump wins the election, equities globally are likely to fall further
as he has called for stringent trade norms for the US. This could hurt major exporting companies
worldwide. However, if Democrat nominee Hillary Clinton comes to power, it may lead to a
rebound in shares as she is expected to retain the current foreign policies.
The Nifty 50 fell for the third consecutive session yesterday, while the S&P BSE Sensex fell for the
fifth consecutive session. Both indices have fallen 2.4% this week.
Yesterday, the Nifty 50 ended at 8433.75, down 51.20 points or 0.6% from the previous close while
the S&P BSE Sensex closed at 27274.15, down 156.13 points or 0.6%. The Nifty 50 is likely to trade
in the range of 8280-8600 points. The next major support is at 8300 in Nifty index while in case of
rebound, 8500 would now act as hurdle," Jayant Manglik, president of retail distribution at Religare
Securities, said in a note.
Besides the US election outcome, earnings for the Jul-Sep quarter will also provide cues for share
indices next week. Cipla, ICICI Bank, Lupin, Mahindra & Mahindra, Power Grid Corp of India, State
Bank of India, Sun Pharmaceutical Industries, Bank of Baroda, Bharat Heavy Electricals, Bharat
Petroleum Corp, Bosch, and Hindalco Industries are the Nifty 50 constituents scheduled to detail Jul- Sep earnings next week.
The negative bias for domestic shares was evident as FIIs net sold shares worth 3.43 bln rupees
today on the Indian stock exchanges, according to provisional data on the National Stock Exchange.
