Indian Market Outlook for the week – 02 to 05.05.2017
Indian Market Outlook for the week -02 to 05.05.2017
( www.rupeedesk.in )
Domestic benchmark indices are seen testing higher levels after hitting lifetime highs this week as
investors will take cues from the spate of corporate earnings and happenings in global markets. The key event next week is the US Federal Open Market Committee's meeting on Tuesday, followed by their decision on interest rates on Wednesday. Investors will watch for US GDP data, scheduled for release later today, for cues on the Fed's future moves regarding interest rates in the world's largest economy, which has a bearing on foreign investment flows to global stock markets. The Metal and automobile sectoral indices could extend gains next week due to buying on expectations of better earnings in the upcoming quarters of the current financial year. Yesterday, the Nifty 50 index ended down 38.10 points, or 0.4% lower at 9304.05, while the S&P BSE Sensex ended down 111.34 points, or 0.4% lower at 29918.40. The Nifty Bank Index ended 31.95 points higher, or up 0.1% at 22358.25, and is expected to range between 21570 and 22600 next week. It had hit a lifetime high of 22380.85 points on Thursday, after having shown monthly gains in 2017 along with the Nifty 50 and the Sensex. Next week, there are many corporate results lined up and the stocks to be in focus will be those in the financial, pharmaceutical, and automobile space. On Monday, Bharat Financial Inclusion will announce its earnings for Jan-Mar and investors will be keenly watching for any clarification regarding speculation that the company may take up the issue of stake sale to a leading bank. On Tuesday, focus will be on personal products maker Marico, and RBL Bank, as they, among others, will announce their quarterly results. Investors will also keep a close watch on earnings nnouncements by Alembic Pharmaceuticals and ICICI Bank on Wednesday, and BASF India, Godrej Properties, MRF, and Housing Development Finance Corp on Thursday. Companies scheduled to announce results on Friday and Saturday are Apollo Tyres, Equitas Holdings, The Great Eastern Shipping CO, Sanofi India, Monsanto India, and Pfizer.
Source : Cogencis Information Services Ltd.
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Indian Market Outlook for the week -02 to 05.05.2017
( www.rupeedesk.in )
Domestic benchmark indices are seen testing higher levels after hitting lifetime highs this week as
investors will take cues from the spate of corporate earnings and happenings in global markets. The key event next week is the US Federal Open Market Committee's meeting on Tuesday, followed by their decision on interest rates on Wednesday. Investors will watch for US GDP data, scheduled for release later today, for cues on the Fed's future moves regarding interest rates in the world's largest economy, which has a bearing on foreign investment flows to global stock markets. The Metal and automobile sectoral indices could extend gains next week due to buying on expectations of better earnings in the upcoming quarters of the current financial year. Yesterday, the Nifty 50 index ended down 38.10 points, or 0.4% lower at 9304.05, while the S&P BSE Sensex ended down 111.34 points, or 0.4% lower at 29918.40. The Nifty Bank Index ended 31.95 points higher, or up 0.1% at 22358.25, and is expected to range between 21570 and 22600 next week. It had hit a lifetime high of 22380.85 points on Thursday, after having shown monthly gains in 2017 along with the Nifty 50 and the Sensex. Next week, there are many corporate results lined up and the stocks to be in focus will be those in the financial, pharmaceutical, and automobile space. On Monday, Bharat Financial Inclusion will announce its earnings for Jan-Mar and investors will be keenly watching for any clarification regarding speculation that the company may take up the issue of stake sale to a leading bank. On Tuesday, focus will be on personal products maker Marico, and RBL Bank, as they, among others, will announce their quarterly results. Investors will also keep a close watch on earnings nnouncements by Alembic Pharmaceuticals and ICICI Bank on Wednesday, and BASF India, Godrej Properties, MRF, and Housing Development Finance Corp on Thursday. Companies scheduled to announce results on Friday and Saturday are Apollo Tyres, Equitas Holdings, The Great Eastern Shipping CO, Sanofi India, Monsanto India, and Pfizer.
Source : Cogencis Information Services Ltd.