Indian Market Outlook For The Week – 30.10.2017 To 03.11.2017
Indian Market Outlook For The Week – 30.10.2017 To 03.11.2017
( www.rupeedesk.in )
The Benchmark indices are likely to be volatile next week as focus will be on corporate earnings for Jul-Sep and trends in global markets. Stock markets are near their peak and, at the most, Nifty 50 could test 10400/10500 next week. Yesterday(27.10.2017), the Nifty50 index ended at 10323.05, down 20.75 points, while the Sensex ended at a record 33157.22 points, up 10.09 points. Both the indices hit lifetime high during intraday. Nifty PSU Bank index, which ended down 4.2% yesterday, may see moderate correction after having risen around 30% this week. Next week, metal companies may see some buying as some major companies will detail their Jul-Sep earnings, Tata Steel on Monday, and Vedanta and Hindalco Industries'; later in the week. Focus will also be on results of Bharti Infratel, Bharti Airtel, Dr Reddy's Laboratories, Lupin, Hero MotoCorp, Tech Mahindra, Housing Development Finance Corp, UPL, and Power Grid Corp. Shares of ICICI Bank are likely to fall as its net profit for Jul-Sep fell 34% on year to 20.6 bln rupees, and was lower than estimate of 24.35 bln rupees. Focus will also be on Oil and Natural Gas Corp, which is scheduled to announce its Jul-Sep earnings on today (Saturday).
Source : Cogencis Information Services Ltd.
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( www.rupeedesk.in )
The Benchmark indices are likely to be volatile next week as focus will be on corporate earnings for Jul-Sep and trends in global markets. Stock markets are near their peak and, at the most, Nifty 50 could test 10400/10500 next week. Yesterday(27.10.2017), the Nifty50 index ended at 10323.05, down 20.75 points, while the Sensex ended at a record 33157.22 points, up 10.09 points. Both the indices hit lifetime high during intraday. Nifty PSU Bank index, which ended down 4.2% yesterday, may see moderate correction after having risen around 30% this week. Next week, metal companies may see some buying as some major companies will detail their Jul-Sep earnings, Tata Steel on Monday, and Vedanta and Hindalco Industries'; later in the week. Focus will also be on results of Bharti Infratel, Bharti Airtel, Dr Reddy's Laboratories, Lupin, Hero MotoCorp, Tech Mahindra, Housing Development Finance Corp, UPL, and Power Grid Corp. Shares of ICICI Bank are likely to fall as its net profit for Jul-Sep fell 34% on year to 20.6 bln rupees, and was lower than estimate of 24.35 bln rupees. Focus will also be on Oil and Natural Gas Corp, which is scheduled to announce its Jul-Sep earnings on today (Saturday).
CEMENT - Up
AUTO - Up
CAPITAL GOODS - Up
BANK (PSUs) - Up
OIL - Down
METAL - Down
TELECOMM - Down
PHARMA - Down
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Source : Cogencis Information Services Ltd.
