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Cement Stocks Outlook for the week – 07 to 11.09.2015
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( www.rupeedesk.in )
The equity market will continue to face the risk of a further slump next week as investors around the world grapple with fears of yet another slowdown in the global economy. Yesterday, the National Stock Exchange's Nifty ended at a 13-month low of 7665.05, down 2.2% from Thursday, and posting a fall of 4.3% for the week.
After fall, there will be caution till the US Federal Reserve's next monetary policy meeting on Sep 16-17. The S&P BSE Sensex ended at 25201.90 points, down 2.2% from Thursday.
Global markets will track the trend in US equities, which are likely to fall last day. Dow futures fell over 180 points after the release of the US non-farm payrolls data. Non-farm payrolls rose 173,000 in August. Also, unemployment rate fell to 5.1%, the lowest rate since April, 2008.
According to the minutes of the US Federal Open Market Committee's July meeting, some
policymakers showed concerns over lagging inflation and awaited further progress in the labour
market before tightening monetary policy. There is an expectation that the data will give an indication of the rate hike in US...
Domestically, there are no triggers (for equities). There is talk of having a Parliamentary session for GST (Goods and Service Tax Bill), but it is not happening.
The Nifty is seen finding immediate support at 7500 points level. On the other hand, any rebound in the Nifty could lead the index to face resistance at 8000 points. Among sectors, banking and other rate-sensitive stocks are likely to be weak, with market participants advising investors to avoid them until the market stabilises. Investors advised to buy pharmaceutical and information technology stocks among defensives. The weak rupee against the dollar is a key factor affecting information technology stocks.
( www.rupeedesk.in )