Indian Market Outlook for the week – 11 to 15.09.2017

Indian Market Outlook for the week – 11 to 15.09.2017

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Indian Market Outlook for the week – 11 to 15.09.2017 )

 Nifty 50 seen in 200-point range next week Benchmark equity indices are seen in a narrow range next week, with the Nifty 50 likely to move in a 200-point range. Gains in the index are likely to be led by metals, with some value buying expected in pharmaceutical stocks. Next week the Nifty 50 is seen in a range of 9850-10050 points. Yesterday, it ended at 9934.80, up 4.90 points, while the S&P BSE Sensex closed up 24.78 points at 31687.52 points. We are expected positive volatility, but profit taking to continue in the stock market. Continued selling by foreign institutional investors is likely to cap any major gains in stocks next week as well. Investors are worried about a potential launch of an intercontinental ballistic missile by North Korea, and concerns over likely damages to the US economy from Hurricane Irma, which is set to make landfall in Florida this weekend. Risk of a military confrontation in the Korean Peninsula persists as Pyongyang may test a missile this weekend, while celebrating the nation's "founding day" on Saturday.

Source : Cogencis Information Services Ltd.