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IT Stocks Outlook for the week – 22 to 26.12.2014
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( www.rupeedesk.in )
Stock indices are seen in a narrow range next week due to expiry of the December futures and
options contracts, and on muted foreign institutional investor activity during the holiday season
abroad. The December derivatives will expire on Wednesday as Indian markets will be closed
Thursday for Christmas. As participation from foreign investors is likely to be muted, a lot of
stock-specific activity will be seen.
We expect a big move only after the expiry. Sector-wise, the banking space is seen range bound,
in line with the market. The Bank Nifty has seen a sharp pullback in the past two days and is
overbought.
Among other sectors, we expect the information technology space to trade with a positive bias
despite volatility in the rupee. Fast moving consumer goods and pharmaceutical stocks are also
seen trading with a positive bias.
In the real estate space, we expect DLF to extend losses next week on news that the Haryana
government has ordered a probe into reports of missing files pertaining to the controversial
Robert Vadra-DLF land deals. Stocks of Sun TV Network are also likely to continue their weak trend into the next week.
( www.rupeedesk.in )
