Indian Market Outlook for the week – 10 to 14.04.2017
Indian Market Outlook for the week – 10 to 14.04.2017
( www.rupeedesk.in )
Domestic stocks are seen volatile next week as the earnings season is set to kick in with results of information technology behemoth Infosys due Thursday. Release of key economic data and persisting geopolitical concerns following the US' missile strike on Syria are likely to add to the uncertainty. Domestic stock markets will be shut next Friday on account of Good Friday. The data on Consumer Price Index-based inflation for March will be released on Wednesday, as will the February data for index of industrial production. Bias for domestic equities, however, remains positive as foreign as well as domestic investors continue to pour money into Indian shares, and on expectations of a full-blown earnings recovery in the new fiscal year. Yesterday, the 51-stock index ended at 9198.30, down 63.65 points or 0.7% from the previous close, while the Sensex ended at 29706.61, down 220.73 points or 0.7%. Traders will closely monitor the movement of the Indian rupee over the next week after it appreciated nearly 1% against the dollar this week. Pharmaceutical, textile, software, and auto-ancillary companies may fall if the Indian unit strengthens more, as their revenue from exports will be hit. Movement of global stock markets will also be eyed as they wait what comes out of the meeting between US President Donald Trump and Chinese counterpart Xi Jinping. Despite global equities being subdued today after the US launched cruise missiles on an air base in Syria, some market participants do not see the development as a major threat. It is unlikely that the US strike into Syria will materialise into something serious, as they will not want to directly confront Russia. The focus will largely shift to earnings; information technology companies are likely to post disappointing earnings, as are banks and pharmaceutical companies.
Source : Cogencis Information Services Ltd.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
Indian Market Outlook for the week – 10 to 14.04.2017
( www.rupeedesk.in )
Domestic stocks are seen volatile next week as the earnings season is set to kick in with results of information technology behemoth Infosys due Thursday. Release of key economic data and persisting geopolitical concerns following the US' missile strike on Syria are likely to add to the uncertainty. Domestic stock markets will be shut next Friday on account of Good Friday. The data on Consumer Price Index-based inflation for March will be released on Wednesday, as will the February data for index of industrial production. Bias for domestic equities, however, remains positive as foreign as well as domestic investors continue to pour money into Indian shares, and on expectations of a full-blown earnings recovery in the new fiscal year. Yesterday, the 51-stock index ended at 9198.30, down 63.65 points or 0.7% from the previous close, while the Sensex ended at 29706.61, down 220.73 points or 0.7%. Traders will closely monitor the movement of the Indian rupee over the next week after it appreciated nearly 1% against the dollar this week. Pharmaceutical, textile, software, and auto-ancillary companies may fall if the Indian unit strengthens more, as their revenue from exports will be hit. Movement of global stock markets will also be eyed as they wait what comes out of the meeting between US President Donald Trump and Chinese counterpart Xi Jinping. Despite global equities being subdued today after the US launched cruise missiles on an air base in Syria, some market participants do not see the development as a major threat. It is unlikely that the US strike into Syria will materialise into something serious, as they will not want to directly confront Russia. The focus will largely shift to earnings; information technology companies are likely to post disappointing earnings, as are banks and pharmaceutical companies.
Source : Cogencis Information Services Ltd.