Indian Market Outlook For The Week – 04 To 08.12.2017
Benchmark stock indices are likely to remain weak in the coming week with 10094 point level continuing to be a key support. If the Nifty 50 falls below the 10094 level, the market will see as much as a 1% correction soon after. Yesterday, the Nifty 50 ended at 10121.80, down by 104.75 points or 1.0% from its previous close. Sensex ended at 32832.94, down 316.41 points or 0.9%.
Next week the Nifty 50 is seen moving in the range of 10094 -10273 points. Qualified institutional placements and initial public offerings scheduled next week are likely to suck out liquidity worth 3-4 bln rupees from the markets. Yesterday, the Nifty 50 extended losses for the fourth consecutive session and the volatility gauge index surged as much as 11% due to a sudden selloff. Next week, we will also keep a watch on the Reserve Bank of India's fifth bi-monthly monetary policy meet, scheduled Wednesday. The US-North Korea issue will also continue to be in focus. Back home, among sectors, metal stocks are expected to continue their bearish trend next week.
Source : Cogencis Information Services Ltd.
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Benchmark stock indices are likely to remain weak in the coming week with 10094 point level continuing to be a key support. If the Nifty 50 falls below the 10094 level, the market will see as much as a 1% correction soon after. Yesterday, the Nifty 50 ended at 10121.80, down by 104.75 points or 1.0% from its previous close. Sensex ended at 32832.94, down 316.41 points or 0.9%.
Next week the Nifty 50 is seen moving in the range of 10094 -10273 points. Qualified institutional placements and initial public offerings scheduled next week are likely to suck out liquidity worth 3-4 bln rupees from the markets. Yesterday, the Nifty 50 extended losses for the fourth consecutive session and the volatility gauge index surged as much as 11% due to a sudden selloff. Next week, we will also keep a watch on the Reserve Bank of India's fifth bi-monthly monetary policy meet, scheduled Wednesday. The US-North Korea issue will also continue to be in focus. Back home, among sectors, metal stocks are expected to continue their bearish trend next week.
Source : Cogencis Information Services Ltd.
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