Indian Market Outlook for the week – 10 to 14.07.2017
Indian Market Outlook for the week – 10 to 14.07.2017
( www.rupeedesk.in )
The Domestic equity indices are seen rising next week, but gains will be limited as the June quarter
earnings season kicks off. Investors will keep an eye for US jobs data, and the US Federal Reserve
Board's semi-annual monetary policy report and Chair Janet Yellen's testimony to the US senate
banking committee next week. Global central bankers' moves on future monetary policies, and
unwinding of fiscal stimulus will also be watched. Another factor that will drive indices next week would be US President Donald Trump's meeting with Russian and Chinese counterparts, and any talk over geopolitical concerns. However, strong domestic liquidity, and continued buying by mutual funds in domestic equities is seen supporting the stock market, and any likely correction is not seen to be very deep. One has to stay invested in the stock market as the liquidity is good and mutual funds are still making value picks both in large and smaller market cap shares. Shares of Reliance Industries may continue to rise as funds buy the stock on hopes of future growth in its energy and telecom business, and as very few mutual funds hold more than 1% stake in the company. The Nifty 50 ended at 9665.80 points, down 8.75 points or 0.1% lower, while the S&P BSE Sensex ended at 31360.63 points, down 8.71 points. Indices recovered from their lows in afternoon trade after Reliance Industries, with a significant weight in the indices, gained 3.4%. The Apr-Jun earning season will begin with private sector IndusInd Bank detailing its June quarter result on Tuesday. Apr-Jun results of Tata Consultancy Services on Thursday, followed by Infosys on Jul 14, may also keep investors a bit cautious. Any disappointments from these two IT majors could bring in some selling pressure in stocks.
Source : Cogencis Information Services Ltd.
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Indian Market Outlook for the week – 10 to 14.07.2017
( www.rupeedesk.in )
The Domestic equity indices are seen rising next week, but gains will be limited as the June quarter
earnings season kicks off. Investors will keep an eye for US jobs data, and the US Federal Reserve
Board's semi-annual monetary policy report and Chair Janet Yellen's testimony to the US senate
banking committee next week. Global central bankers' moves on future monetary policies, and
unwinding of fiscal stimulus will also be watched. Another factor that will drive indices next week would be US President Donald Trump's meeting with Russian and Chinese counterparts, and any talk over geopolitical concerns. However, strong domestic liquidity, and continued buying by mutual funds in domestic equities is seen supporting the stock market, and any likely correction is not seen to be very deep. One has to stay invested in the stock market as the liquidity is good and mutual funds are still making value picks both in large and smaller market cap shares. Shares of Reliance Industries may continue to rise as funds buy the stock on hopes of future growth in its energy and telecom business, and as very few mutual funds hold more than 1% stake in the company. The Nifty 50 ended at 9665.80 points, down 8.75 points or 0.1% lower, while the S&P BSE Sensex ended at 31360.63 points, down 8.71 points. Indices recovered from their lows in afternoon trade after Reliance Industries, with a significant weight in the indices, gained 3.4%. The Apr-Jun earning season will begin with private sector IndusInd Bank detailing its June quarter result on Tuesday. Apr-Jun results of Tata Consultancy Services on Thursday, followed by Infosys on Jul 14, may also keep investors a bit cautious. Any disappointments from these two IT majors could bring in some selling pressure in stocks.
Source : Cogencis Information Services Ltd.
