Indian Markets Outlook For The Week - 09 to 13.10.2017
Indian Markets Outlook For The Week - 09 to 13.10.2017
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Domestic share indices are seen positive in the coming week, though investors are likely to exercise some caution amid announcements of corporate earnings for Jul- Sep starting Thursday. Nifty 50 constituents IndusInd Bank and Tata Consultancy Services are scheduled to detail their Jul-Sep earnings on Thursday, while heavyweight Reliance Industries will detail its results on Friday. Next week, Nifty 50 is seen moving in a range of 9900-10075 points. Yesterday, the 50-stock index rose above its 50-day and 21-day moving averages to end at 9979.70, up 91.00 points or 0.9% from Thursday's close. The Sensex ended at 31814.22, up 222.19 points or 0.7%. The Nifty 50 had
been resisting the 9945-point level, its 50-day moving average, for quite some time, but now as it has closed above it, chances of the Nifty 50 topping the 10000-point mark next week are high.
Sustained buying by domestic institutional investors is expected to keep market sentiment positive. We will keep an eye on the outcome of a meeting of the Goods and Services Tax Council yesterday, and overseas investors will monitor data on US non-farm payrolls for September, released yesterday. We expect stocks of oil marketing companies to rise further, and see pharmaceutical stocks trading at either their current levels or slightly higher. Among specific stocks, Reliance Industries is seen gaining on news that a subsidiary will sell its upstream assets in Pennsylvania for $126 mln.
Source : Cogencis Information Services Ltd.
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( www.rupeedesk.in )
Domestic share indices are seen positive in the coming week, though investors are likely to exercise some caution amid announcements of corporate earnings for Jul- Sep starting Thursday. Nifty 50 constituents IndusInd Bank and Tata Consultancy Services are scheduled to detail their Jul-Sep earnings on Thursday, while heavyweight Reliance Industries will detail its results on Friday. Next week, Nifty 50 is seen moving in a range of 9900-10075 points. Yesterday, the 50-stock index rose above its 50-day and 21-day moving averages to end at 9979.70, up 91.00 points or 0.9% from Thursday's close. The Sensex ended at 31814.22, up 222.19 points or 0.7%. The Nifty 50 had
been resisting the 9945-point level, its 50-day moving average, for quite some time, but now as it has closed above it, chances of the Nifty 50 topping the 10000-point mark next week are high.
Sustained buying by domestic institutional investors is expected to keep market sentiment positive. We will keep an eye on the outcome of a meeting of the Goods and Services Tax Council yesterday, and overseas investors will monitor data on US non-farm payrolls for September, released yesterday. We expect stocks of oil marketing companies to rise further, and see pharmaceutical stocks trading at either their current levels or slightly higher. Among specific stocks, Reliance Industries is seen gaining on news that a subsidiary will sell its upstream assets in Pennsylvania for $126 mln.
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Source : Cogencis Information Services Ltd.
