Telecom Stocks Outlook for the week – 26 to 30.12.2016
Telecom Stocks Outlook for the week – 26 to 30.12.2016
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The shares of most telecommunication companies are likely to remain under pressure next week. Bharti Airtel Ltd's shares, however, could see some uptick. With no major cues to trigger a significant move in indices, we expect Indian equities to remain weak till the first week of January, after which the Union Budget for 2017-18 (Apr-Mar), as well as corporate earnings for the December quarter will lend direction. We believe that further weakness could build up next week, as indicated by short positions in the Nifty 50 yesterday. After opening in the red for the eighth consecutive session, domestic share indices recovered midway to end higher yesterday, though the gains were marginal. The undertone remains weak, with continued selling pressure from institutions.
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Telecom Stocks Outlook for the week – 26 to 30.12.2016
The shares of most telecommunication companies are likely to remain under pressure next week. Bharti Airtel Ltd's shares, however, could see some uptick. With no major cues to trigger a significant move in indices, we expect Indian equities to remain weak till the first week of January, after which the Union Budget for 2017-18 (Apr-Mar), as well as corporate earnings for the December quarter will lend direction. We believe that further weakness could build up next week, as indicated by short positions in the Nifty 50 yesterday. After opening in the red for the eighth consecutive session, domestic share indices recovered midway to end higher yesterday, though the gains were marginal. The undertone remains weak, with continued selling pressure from institutions.
