Indian Market Outlook For The Week - 21 To 25.01.2019

Indian Market Outlook For The Week - 21 To 25.01.2019

             Equity Cash/Futures/Options Segment 

The Nifty 50 may test the crucial resistance level of 11000 points next week, as domestic equities are
expected to catch up with the gains seen in their global peers yesterday and the earnings of major
consumer companies and private banks are likely to be robust. Benchmark equity indices ended flat
yesterday, underperforming most global equities, which rose over 1% each, as an 8% fall in stocks of Sun Pharmaceutical Industries, due to fears of corporate misgovernance, spooked investors. Global risk appetite got a boost from news reports that US trade officials were considering easing import tariffs on goods from China. Yesterday, the Nifty 50 ended at 10906.95 points or up 1.75 points, while the BSE Sensex closed at 36386.61, up 12.53 points. A total of eight Nifty 50 companies Asian Paints, ITC, Kotak Mahindra Bank, Larsen & Toubro, Maruti Suzuki India, YES Bank, Ultratech Cement, and Bharti Infratel are set to detail their earnings next week, with HDFC Bank slated to release them on Saturday. Index major ITC is likely to report strong earnings, led by higher cigarette volumes, while private banks are expected to see a rise in profits, given recoveries from resolution of
insolvent companies and lower provisions, now that the bad loan recognition cycle is largely over. The Nifty 50 is likely to find support at 10800 points and then, at 10500 points. We await a meeting between officals from the finance ministry and public sector banks, reportedly scheduled for next week. Stocks of Wipro are seen falling next week as the company's lower-than-anticipated sales growth guidance for Jan- Mar and a bonus share ratio of one for three may disappoint investors.

Source : Cogencis Information Services Ltd.

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