Indian Market Outlook for the week – 03 to 07.07.2017
Indian Market Outlook for the week – 03 to 07.07.2017
( www.rupeedesk.in )
Uncertainty over the disruptions emanating from the rollout of the goods and services tax is likely to
keep domestic equities subdued next week. The transition to uniform tax rates across the country is
unlikely to be smooth and will add to the volatility in local stocks in the near term. Besides GST, volatility in global markets due to the rout in technology stocks and concerns over global economic growth due to tightening of monetary policy will keep the Nifty 50 from notching sharp gains and crossing the 9600-mark. The index is seen consolidating in the range of 9450-9620 points next week. Today, the Nifty 50 ended at 9520.90, up 16.80 points or 0.2% from the previous close. The S&P BSE Sensex ended at 30921.61, up 64.09 points or 0.2%. Rollover of short positions to the July derivatives series of the Nifty 50 also suggests that investors expect the market to remain subdued. Strength in the dollar and other units against the Indian rupee after major central banks in the US and the UK hinted at tightening their monetary policies may hit inflows into Indian markets. Next week, progress of the monsoon, movement of crude oil prices and trends in global markets will be eyed. Among stocks, automobile companies will be in focus next week as they detail their sales numbers for June. Stocks of Deepak Fertilisers may gain as the company reported a net profit of 518.5 mln rupees for Jan-Mar as against 237.8 mln rupees a year ago.
Source : Cogencis Information Services Ltd.
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Indian Market Outlook for the week – 03 to 07.07.2017
( www.rupeedesk.in )
Uncertainty over the disruptions emanating from the rollout of the goods and services tax is likely to
keep domestic equities subdued next week. The transition to uniform tax rates across the country is
unlikely to be smooth and will add to the volatility in local stocks in the near term. Besides GST, volatility in global markets due to the rout in technology stocks and concerns over global economic growth due to tightening of monetary policy will keep the Nifty 50 from notching sharp gains and crossing the 9600-mark. The index is seen consolidating in the range of 9450-9620 points next week. Today, the Nifty 50 ended at 9520.90, up 16.80 points or 0.2% from the previous close. The S&P BSE Sensex ended at 30921.61, up 64.09 points or 0.2%. Rollover of short positions to the July derivatives series of the Nifty 50 also suggests that investors expect the market to remain subdued. Strength in the dollar and other units against the Indian rupee after major central banks in the US and the UK hinted at tightening their monetary policies may hit inflows into Indian markets. Next week, progress of the monsoon, movement of crude oil prices and trends in global markets will be eyed. Among stocks, automobile companies will be in focus next week as they detail their sales numbers for June. Stocks of Deepak Fertilisers may gain as the company reported a net profit of 518.5 mln rupees for Jan-Mar as against 237.8 mln rupees a year ago.
Source : Cogencis Information Services Ltd.
