India Market Outlook For The Week - 26 to 30.11.2018
Benchmark equity indices are likely to see moderate losses in an event-heavy week as investors take a more cautious approach to equities. Trade is likely to remain volatile the entire week as investors await the exit polls for assembly election in Madhya Pradesh, minutes of the US Federal Reserve's November monetary policy meeting, India's Jul-Sep GDP growth print, US-China meet at Group of 20 Summit and expiry of the November derivatives series. Stock markets in India will be closed on Friday because of Guru Nanak's Jayanti, while US markets are closed yesterday and partially on Friday because of Thanks giving Day. Next week, the Nifty 50 is seen in the range of 10450-10700 points. Yesterday, the 50-stock index closed at 10526.75, down by 73.30 points or 0.7%. Assembly election will be held in Madhya Pradesh Wednesday and the outcome of exit polls will be crucial in determining the fate of the incumbent Bharatiya Janata Party in the general elections of 2019. Investors will also monitor developments on a possible trade deal between the US and China ahead of a meeting between the two nations at Group of 20 summit in Buenos Aires on Nov 30. Indices will open lower next week tracking cues from the global indices that are mixed due to uncertainties in terms of progress in US-China trade deal and slowing economic growth. On Friday, focus will turn to GDP growth print for September quarter. The minutes of the US Federal Reserve's meeting, held earlier this month, will be critical as investors assess the possibility of the US central bank not raising interest rates at its December meeting. Stocks of information technology companies are likely to remain weak as their valuations and appreciation in the rupee may weigh.
Source : Cogencis Information Services Ltd.
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Benchmark equity indices are likely to see moderate losses in an event-heavy week as investors take a more cautious approach to equities. Trade is likely to remain volatile the entire week as investors await the exit polls for assembly election in Madhya Pradesh, minutes of the US Federal Reserve's November monetary policy meeting, India's Jul-Sep GDP growth print, US-China meet at Group of 20 Summit and expiry of the November derivatives series. Stock markets in India will be closed on Friday because of Guru Nanak's Jayanti, while US markets are closed yesterday and partially on Friday because of Thanks giving Day. Next week, the Nifty 50 is seen in the range of 10450-10700 points. Yesterday, the 50-stock index closed at 10526.75, down by 73.30 points or 0.7%. Assembly election will be held in Madhya Pradesh Wednesday and the outcome of exit polls will be crucial in determining the fate of the incumbent Bharatiya Janata Party in the general elections of 2019. Investors will also monitor developments on a possible trade deal between the US and China ahead of a meeting between the two nations at Group of 20 summit in Buenos Aires on Nov 30. Indices will open lower next week tracking cues from the global indices that are mixed due to uncertainties in terms of progress in US-China trade deal and slowing economic growth. On Friday, focus will turn to GDP growth print for September quarter. The minutes of the US Federal Reserve's meeting, held earlier this month, will be critical as investors assess the possibility of the US central bank not raising interest rates at its December meeting. Stocks of information technology companies are likely to remain weak as their valuations and appreciation in the rupee may weigh.
Source : Cogencis Information Services Ltd.
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