Indian Market Outlook for the week – 19 to 23.06.2017
Indian Market Outlook for the week – 19 to 23.06.2017
Benchmark equity indices are seen trading in a range next week due to absence of any significant triggers. Experts say markets have factored in most of the negative news now and going ahead, key mentionable are likely to be the expiry of the June futures and options series, rollout of the goods and services tax and Apr-Jun earnings. During the week, domestic indices ended largely unchanged despite the monetary policy outcome of major central banks. The Bank of Japan today maintained a status quo on the monetary policy. The central bank's policy move weakened the yen and aided the shares of exporting companies that gave the sentiment in Asian markets a boost. The Nifty 50 today briefly crossed the psychologically-important 9600 mark, but gave up its gains to end at 9588.05 points, up 0.10 points from its Thursday's close. On other hand, the BSE S&P Sensex erased its day's gains to end at 31056.40 points, down 19.33 points. Next week, the 51-stock Nifty 50 index is seen moving in a range of 9500-9700 points. Until the Jun Future expiry, it looks like markets are going to remain range-bound and more stockcentric action is expected. Investors will also keep a watch on the global markets for significant Political developments. The election process in France will get over with the second round of voting on Sunday where President Emmanuel Macron is expected to win an overwhelming legislative majority. Back home, market participants will keep a watch on the GST Council meet on Sunday, where a discussion will be held on revision of goods and services tax rates on some more items. Focus will also be on the pharmaceutical sector after shares of most drug majors tanked yesterday following a report that US President Donald Trump is mulling over an executive order to cut drug cost in the US. Yesterday, the Nifty Pharma was the biggest laggard among sectoral indices. As per reports, top health and budget officials in the US administration will meet on Friday to discuss the issue.
Source : Cogencis Information Services Ltd.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
Indian Market Outlook for the week – 19 to 23.06.2017
Benchmark equity indices are seen trading in a range next week due to absence of any significant triggers. Experts say markets have factored in most of the negative news now and going ahead, key mentionable are likely to be the expiry of the June futures and options series, rollout of the goods and services tax and Apr-Jun earnings. During the week, domestic indices ended largely unchanged despite the monetary policy outcome of major central banks. The Bank of Japan today maintained a status quo on the monetary policy. The central bank's policy move weakened the yen and aided the shares of exporting companies that gave the sentiment in Asian markets a boost. The Nifty 50 today briefly crossed the psychologically-important 9600 mark, but gave up its gains to end at 9588.05 points, up 0.10 points from its Thursday's close. On other hand, the BSE S&P Sensex erased its day's gains to end at 31056.40 points, down 19.33 points. Next week, the 51-stock Nifty 50 index is seen moving in a range of 9500-9700 points. Until the Jun Future expiry, it looks like markets are going to remain range-bound and more stockcentric action is expected. Investors will also keep a watch on the global markets for significant Political developments. The election process in France will get over with the second round of voting on Sunday where President Emmanuel Macron is expected to win an overwhelming legislative majority. Back home, market participants will keep a watch on the GST Council meet on Sunday, where a discussion will be held on revision of goods and services tax rates on some more items. Focus will also be on the pharmaceutical sector after shares of most drug majors tanked yesterday following a report that US President Donald Trump is mulling over an executive order to cut drug cost in the US. Yesterday, the Nifty Pharma was the biggest laggard among sectoral indices. As per reports, top health and budget officials in the US administration will meet on Friday to discuss the issue.
Source : Cogencis Information Services Ltd.
