Indian Market Outlook For The Week: 26.02.2018 to 01.03.2018

Indian Market Outlook For The Week: 26.02.2018 to 01.03.2018

             Equity Cash/Futures/Options Segment 

Domestic stock indices are seen extending their gains to next week as markets across the globe shrugged off worries over an increase in pace of interest rate hikes in the US. A Federal Reserve official on Thursday said he expects the US central bank to raise interest rates twice in 2018 as against the Fed's own guidance of three hikes. Next week the Nifty 50 is seen moving in a range of
10300-10650 points. Yesterday, the Nifty 50 ended at 10491.05, up 108.35 points or 1% from its previous close. The Sensex ended at 34142.15, up 322.65 points or 0.9%. The Nifty ended above its 100-day moving average level of 10300 points on yesterday. As long as it maintains that level, further up move in the index is expected. Market participants will monitor global markets, with the US
Federal Reserve due to publish its monetary policy report today, before new chair Jerome Powell's
testimony to the Congress next week. Investors will also keep an eye on the detailing of automobile
sales numbers for February. Stocks of metal companies are expected to continue their rise next week. Metal companies were the top performers last day, after equity markets in China reopened after being closed for a week on account of Lunar New Year holidays. Some automobile stocks are also expected to outperform benchmark indices next week.

Source : Cogencis Information Services Ltd.

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