India Market Outlook For The Week - 03 to 07.12.2018
A crucial meeting between US President Donald Trump and his Chinese counterpart Xi Jinping at
the G-20 summit in Argentina on yesterday will lend cues to benchmark equity indices next week.
According to some media reports, officials from the US and China were working towards ensuring a
positive outcome from the trade talks, including possible deescalation of the ongoing tariff disputes.
However, market participants are cautious as only days ago, Trump had said tariffs on $200 bln worth Chinese goods would be imposed as planned. Investors will also focus on data on India's GDP growth in Jul-Sep, to be released after market hours today. India's GDP growth is expected to slow to 7.5% from 8.2% a quarter ago. Data on the government's fiscal deficit for Apr-Oct yesterday will also be widely tracked. Data on automobile companies' sales in November, due on Monday, will also be in focus. Dealers said the sales numbers for November might disappoint investors, as demand for automobiles this festival season was drastically low. Movement in crude oil prices will also be monitored closely, ahead of a meeting of the Organization of the Petroleum Exporting Countries and its allies. Market participants expect that an agreement to cut oil supply will be reached at the meeting, which may help stabilise falling crude oil prices. Next week, the Nifty 50 is seen in a range of 10700-11000 points yesterday, the index closed at 10876.75, up 18.05 points or 0.2%, while the Sensex closed at 36194.30, up 23.89 points or 0.1%. Stock of YES Bank will remain in focus next week, as Rajat Monga, senior group president, said there was deep value in the stock and concern over uncertainty on the future of the bank and the appointment of the new board would be addressed in the coming days.
Source : Cogencis Information Services Ltd.
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A crucial meeting between US President Donald Trump and his Chinese counterpart Xi Jinping at
the G-20 summit in Argentina on yesterday will lend cues to benchmark equity indices next week.
According to some media reports, officials from the US and China were working towards ensuring a
positive outcome from the trade talks, including possible deescalation of the ongoing tariff disputes.
However, market participants are cautious as only days ago, Trump had said tariffs on $200 bln worth Chinese goods would be imposed as planned. Investors will also focus on data on India's GDP growth in Jul-Sep, to be released after market hours today. India's GDP growth is expected to slow to 7.5% from 8.2% a quarter ago. Data on the government's fiscal deficit for Apr-Oct yesterday will also be widely tracked. Data on automobile companies' sales in November, due on Monday, will also be in focus. Dealers said the sales numbers for November might disappoint investors, as demand for automobiles this festival season was drastically low. Movement in crude oil prices will also be monitored closely, ahead of a meeting of the Organization of the Petroleum Exporting Countries and its allies. Market participants expect that an agreement to cut oil supply will be reached at the meeting, which may help stabilise falling crude oil prices. Next week, the Nifty 50 is seen in a range of 10700-11000 points yesterday, the index closed at 10876.75, up 18.05 points or 0.2%, while the Sensex closed at 36194.30, up 23.89 points or 0.1%. Stock of YES Bank will remain in focus next week, as Rajat Monga, senior group president, said there was deep value in the stock and concern over uncertainty on the future of the bank and the appointment of the new board would be addressed in the coming days.
Source : Cogencis Information Services Ltd.
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