Indian Market Outlook For The Week - 12 To 16.11.2018
Benchmark indices are seen higher next week as an expected fall in global crude oil prices is seen as a big positive for India, largely an oil importing nation. Yesterday on the NYMEX, Brent crude oil was down 1.7% at $69.48 a barrel, and down more than 17% over five weeks now. We would be most likely seeing a rebalancing of portfolios by investors, with little room for any major movement in the benchmark indices, either a big fall or a gain. Stocks of automobile manufacturers, state-owned oil refineries, and consumer goods companies like Asian Paints will benefit from a further fall in crude oil prices. Investors will take into consideration domestic inflation numbers for October that will be detailed next week. India's headline inflation rate based on Consumer Price Index will be announced on Monday. The inflation is likely to have inched down to 3.6% in October, primarily on account of the statistical effect of a high base. India's annual inflation rate, based on the Wholesale Price Index, will also be announced on Wednesday. Investors will also focus on global markets and Jul-Sep earnings of companies yet to declare their results. Companies that will be in focus next week are Coal India, Eicher Motors, Grasim Industries, Mahindra & Mahindra, Sun Pharmaceutical Industries and Tata Steel, as they have yet to announce their Jul-Sep results. A sharp rise in stocks will be tempered by the expected rate hike by the US Federal Reserve in December, which could push the dollar higher and lead to foreign fund outflow from emerging markets. In its two-day policy meeting that concluded on Thursday, the US Federal Reserve indicated that it plans to continue raising rates at a gradual pace, with the next hike scheduled in December. Yesterday, the index had closed at 10585.20, down 13.20 points or 0.1%. The Sensex ended at 35158.55, down 79.13, or 0.2%. Shares of Jewellery firm Titan Co are likely to open weak on Monday as its Jul-Sep net profit of 3.1 bln rupees, came below estimated net profit of 3.55 bln rupees.
Source : Cogencis Information Services Ltd.
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Benchmark indices are seen higher next week as an expected fall in global crude oil prices is seen as a big positive for India, largely an oil importing nation. Yesterday on the NYMEX, Brent crude oil was down 1.7% at $69.48 a barrel, and down more than 17% over five weeks now. We would be most likely seeing a rebalancing of portfolios by investors, with little room for any major movement in the benchmark indices, either a big fall or a gain. Stocks of automobile manufacturers, state-owned oil refineries, and consumer goods companies like Asian Paints will benefit from a further fall in crude oil prices. Investors will take into consideration domestic inflation numbers for October that will be detailed next week. India's headline inflation rate based on Consumer Price Index will be announced on Monday. The inflation is likely to have inched down to 3.6% in October, primarily on account of the statistical effect of a high base. India's annual inflation rate, based on the Wholesale Price Index, will also be announced on Wednesday. Investors will also focus on global markets and Jul-Sep earnings of companies yet to declare their results. Companies that will be in focus next week are Coal India, Eicher Motors, Grasim Industries, Mahindra & Mahindra, Sun Pharmaceutical Industries and Tata Steel, as they have yet to announce their Jul-Sep results. A sharp rise in stocks will be tempered by the expected rate hike by the US Federal Reserve in December, which could push the dollar higher and lead to foreign fund outflow from emerging markets. In its two-day policy meeting that concluded on Thursday, the US Federal Reserve indicated that it plans to continue raising rates at a gradual pace, with the next hike scheduled in December. Yesterday, the index had closed at 10585.20, down 13.20 points or 0.1%. The Sensex ended at 35158.55, down 79.13, or 0.2%. Shares of Jewellery firm Titan Co are likely to open weak on Monday as its Jul-Sep net profit of 3.1 bln rupees, came below estimated net profit of 3.55 bln rupees.
Source : Cogencis Information Services Ltd.
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