Indian Market Outlook For The Week - 10 To 14.09.2018
Benchmark equity indices are seen higher next week, but gains will depend on whether the Indian rupee manages to hold on to its recovery. The Nifty 50 is expected to see a further move-up if the index crosses the 11620-point level and sustains. Yesterday, the market retreated from the day's
low as the recovery in the rupee and a gradual fall in oil price supported investor sentiment. Next
week, the Nifty 50 is seen moving within 11400-11800 points. Yesterday, the Nifty 50 ended at
11589.10, up 52.20 points or 0.4% from its previous close. Sensex ended at 38389.82, up 147.01
points or 0.4% from its previous close. Globally, investors will monitor developments in the US China trade spat as well as key payroll data from the US, which is released yesterday. Back home, investors will eye inflation data, due on Wednesday, given the recent weakness in the rupee against the backdrop of rising crude oil prices. Among specific sectors, we expect information technology companies and pharmaceutical companies to maintain their strong momentum. Stocks of automobile, metal companies and select private banks look strong, while realty and public-sector banks may continue to reel under pressure.
Source : Cogencis Information Services Ltd.
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Benchmark equity indices are seen higher next week, but gains will depend on whether the Indian rupee manages to hold on to its recovery. The Nifty 50 is expected to see a further move-up if the index crosses the 11620-point level and sustains. Yesterday, the market retreated from the day's
low as the recovery in the rupee and a gradual fall in oil price supported investor sentiment. Next
week, the Nifty 50 is seen moving within 11400-11800 points. Yesterday, the Nifty 50 ended at
11589.10, up 52.20 points or 0.4% from its previous close. Sensex ended at 38389.82, up 147.01
points or 0.4% from its previous close. Globally, investors will monitor developments in the US China trade spat as well as key payroll data from the US, which is released yesterday. Back home, investors will eye inflation data, due on Wednesday, given the recent weakness in the rupee against the backdrop of rising crude oil prices. Among specific sectors, we expect information technology companies and pharmaceutical companies to maintain their strong momentum. Stocks of automobile, metal companies and select private banks look strong, while realty and public-sector banks may continue to reel under pressure.
Source : Cogencis Information Services Ltd.
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