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========================================================================Bank Stocks Outlook for the week – 20 to 22.10.2014
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Indian Markets Outlook for the week – 20.10.2014 to 22.10.2014
( www.rupeedesk.in )Results of elections to the assemblies of Haryana and Maharashtra, which will be
released on Sunday, will determine the course of the markets on Monday. However, benchmark share indices are expected to move in a narrow range later next week as investors avoid taking positions ahead of a long weekend. Markets will be closed on Thursday and Friday for Diwali, but the market will remain open for a short period on Thursday for muhurat trading.
However, for the gains to sustain beyond Monday, the government will have to start the reforms process. Investors will also keep a close watch on global markets. Any major sell-off in overseas markets could fuel selling by foreign institutional investors and a subsequent fall in Indian indices. FIIs continue to sell due to gap in liquidity telling that world is slowing and dollar interest will increase.
We see the National Stock Exchange's Nifty moving between 7650 points and 7920 points next week. Yesterday, the Nifty ended at 7779.70, up 31.50 points or 0.4% from Thursday's close and the S&P BSE Sensex closed at 26108.53, up 109.19 points or 0.4%. Jul-Sep earnings reports of companies will also drive markets next week.
Among Nifty constituents, HDFC Bank, Punjab National Bank, Asian Paints, Kotak
Mahindra Bank and Wipro will detail their Jul-Sep earnings over the next week.
UltraTech Cement will detail its results today. UltraTech Cement's net profit is seen at 3.61 bln rupees, up 36.8% on year and net sales at 51.25 bln rupees, up 13.8% on year. Earnings of Axis Bank may lead to some fall in the bank's shares. The bank's net profit for Jul-Sep stood at 16.11 bln rupees as against an estimated 16.45 bln rupees. Stocks of banks and automobile companies are expected to rise next week.
( www.rupeedesk.in )