Indian Markets Outlook For The Week - 15 To 19.10.2018
Stellar gains in the domestic benchmark indices notwithstanding, yesterday's gains were "temporary"; every rise in the indices must be seen as a selling opportunity. Benchmark indices may fail to sustain yesterday's gains next week and edge lower as overall sentiment towards equities remains weak. Markets will be shut on Thursday on account of Dussehra holiday. Investors believe that good corporate earnings for Jul-Sep may give some relief to the market, but there are 'too many' negative factors to sustain gains. Even a small punishment is very heavy in the market right now. We will focus on Jul-Sep earnings of Infosys, Reliance Industries, IndusInd Bank, Hero MotoCorp, UltraTech Cement and Indiabulls Housing Finance, due next week. Concern over escalation in trade war tension between the US and China, further depreciation in the rupee, rising crude oil prices and fear that the Bharatiya Janata Party may not win the upcoming state elections with a majority, continued to dampen sentiment. India August IIP at 4.3% Vs 6.5%(MoM). India September CPI Combined Inflation at 3.77% Vs 3.69%(MoM). Over the next week, the Nifty 50 is seen in the range of 9950 -10700 points. Yesterday, the Nifty 50 ended higher by 237.85 points or 2.3% at 10472.50 points. Sensex closed at 34733.58 points, up by 732.43 points or 2.1%. Shares of Hindustan Unilever are seen rising on Monday after the company the company's net profit came at 15.3 bln rupees. The company has declared an interim dividend of 9 rupees per share.
Source : Cogencis Information Services Ltd.
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Stellar gains in the domestic benchmark indices notwithstanding, yesterday's gains were "temporary"; every rise in the indices must be seen as a selling opportunity. Benchmark indices may fail to sustain yesterday's gains next week and edge lower as overall sentiment towards equities remains weak. Markets will be shut on Thursday on account of Dussehra holiday. Investors believe that good corporate earnings for Jul-Sep may give some relief to the market, but there are 'too many' negative factors to sustain gains. Even a small punishment is very heavy in the market right now. We will focus on Jul-Sep earnings of Infosys, Reliance Industries, IndusInd Bank, Hero MotoCorp, UltraTech Cement and Indiabulls Housing Finance, due next week. Concern over escalation in trade war tension between the US and China, further depreciation in the rupee, rising crude oil prices and fear that the Bharatiya Janata Party may not win the upcoming state elections with a majority, continued to dampen sentiment. India August IIP at 4.3% Vs 6.5%(MoM). India September CPI Combined Inflation at 3.77% Vs 3.69%(MoM). Over the next week, the Nifty 50 is seen in the range of 9950 -10700 points. Yesterday, the Nifty 50 ended higher by 237.85 points or 2.3% at 10472.50 points. Sensex closed at 34733.58 points, up by 732.43 points or 2.1%. Shares of Hindustan Unilever are seen rising on Monday after the company the company's net profit came at 15.3 bln rupees. The company has declared an interim dividend of 9 rupees per share.
Source : Cogencis Information Services Ltd.
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