Saturday, June 4, 2016

Indian Market Weekly Outlook & Sectorwise Stocks Outlook for the Week - 6.Jun.2016 to 10.Jun.2016

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Indian Markets Outlook for the week – 6.Jun.2016 to 10.Jun.2016 (RBI policy in focus next week; bias positive)

( www.rupeedesk.in ) 

The Reserve Bank of India's bi-monthly monetary policy will be the focus next week for the equities market, and any positive commentary or move by the Indian central bank will provide a further leg-up to the current momentum in stocks. Although the unanimous opinion is that the RBI will maintain a status quo on rates, direction on further interest rates, and more importantly, governor Raghuram Rajan's second term at the RBI will be watched.

Due to a number of macro events slated and its inclination towards having a better clarity on inflation trajectory the Reserve Bank may choose to repeat its commitment towards having a accommodative policy based on its inflation expectation. The Reports that Rajan is not "interested" in a second tenure at RBI had driven capital markets have been edgy earlier this week. RBI will detail its monetary policy on Tuesday. The Benchmark indices tested their seven-month highs intraday, ending the second consecutive week with gains. This data is important, and will be a key indictor for shares on Monday, as it gives hints about the US Federal Open Market Committee's likely action on interest rates.

The US Federal Reserve will start its two-day monetary policy meeting on the 14th of this month. Reports suggest that the US central bank is unlikely to raise interest rates in the June meeting as it awaits Britain's referendum on its membership in the European Union. For domestic shares, the progress of the monsoon will also be pivotal. On Friday, there may be some caution in equities ahead of the release of the Industrial production data for April.

( www.rupeedesk.in ) 
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