Indian Markets Outlook for the week – 27.02.2017 to 03.03.2017
Indian Markets Outlook for the week – 27.02.2017 to 03.03.2017
( www.rupeedesk.in )
Domestic stock indices are expected to be range-bound next week, with expecting some profit booking as benchmark indices last trading day ended near their 52-week highs. This week is a truncated one as markets has shut on Friday for Mahashivratri. The Nifty 50 ended at 8939.50, up 12.60 points or 0.1%, off its 52-week high of 8982.15 touched on Thursday. The Nifty 50 is just 179.70 points off its lifetime high of 9119.20. Today, Sensex closed at 28892.97, up 28.26 points or 0.1% from the previous close. The 52-week high for the 30-stock index is 29077.28, touched on Sep 8. Investors will also stay cautious amid the ongoing Assembly elections, and would rather wait for results. Benchmark indices have come up sooner than expected, and we can see some correction at higher levels. Post demonetisation, the Nifty 50 had touched a low of 7893.80 points on Dec 26. If the state election results will favour the ruling government (at the Centre) then it will be good for the markets Midcap and smallcap stocks are likely to see some early corrections, as most of them are near their 52- week or lifetime highs. Stocks in the information technology space due to hopes of more companies following in the footsteps of Tata Consultancy Services, for buying back shares to reward investors.
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Indian Markets Outlook for the week – 27.02.2017 to 03.03.2017
( www.rupeedesk.in )
Domestic stock indices are expected to be range-bound next week, with expecting some profit booking as benchmark indices last trading day ended near their 52-week highs. This week is a truncated one as markets has shut on Friday for Mahashivratri. The Nifty 50 ended at 8939.50, up 12.60 points or 0.1%, off its 52-week high of 8982.15 touched on Thursday. The Nifty 50 is just 179.70 points off its lifetime high of 9119.20. Today, Sensex closed at 28892.97, up 28.26 points or 0.1% from the previous close. The 52-week high for the 30-stock index is 29077.28, touched on Sep 8. Investors will also stay cautious amid the ongoing Assembly elections, and would rather wait for results. Benchmark indices have come up sooner than expected, and we can see some correction at higher levels. Post demonetisation, the Nifty 50 had touched a low of 7893.80 points on Dec 26. If the state election results will favour the ruling government (at the Centre) then it will be good for the markets Midcap and smallcap stocks are likely to see some early corrections, as most of them are near their 52- week or lifetime highs. Stocks in the information technology space due to hopes of more companies following in the footsteps of Tata Consultancy Services, for buying back shares to reward investors.