INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Last week brought some relief to the domestic equity investors, as key indices Nifty and Sensex, logged weekly gains of about 1
per cent, thanks to a firming trend in global markets and easing crude oil prices.
However, Dalal Street witnessed some bouts of volatility,
owing to the expiry of December FO series and global cues wavered amid concerns of weak economic growth, but NBFC and bank stocks, riding
the optimism around liquidity infusion, boosted market sentiment
The BSE benchmark Sensex index climbed about 335 points or 0.94 per cent, whereas the NSE Nifty edged up by 106 points or 0.98 per cent for
the week.
Global sentiment is expected to remain a key factor this week as well, while macro prints and crude prices will also influence the
2018, the US-China trade war, is showing signs of easing, after the leaders of world's top two economies smoked peace pipe at G20 meet
Market is buzzing with reports that the US President and his Chinese counterpart have made further inroads in resolving the nagging issue of
On Saturday, the US President Donald Trump said on Twitter that the US and China are progressing well in the direction of a possible trade
deal.
"Just had a long and very good call with President Xi of China
Deal is moving along very well
If made, it will be very comprehensive, covering all subjects, areas and points of dispute
Big progress being made!," Trump wrote.
Analysts are optimistic over a US-China trade deal in view of the worries of slowing economic growth
Both the leaders, in a bid to revive investor confidence in their economies, may adopt milder tone for one another.
Earnings season to kick
offDecember quarter earnings numbers will start coming in from this week
As per data available with the BSE, smallcap firms GM Breweries, Supreme Infrastructure and Vishal Bearings will kick off the season on
January 3.
Eyes on domestic macro data India's infrastructure output data for November will be out on Monday
The growth of country's eight core sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity
Country's third quarter foreign debt numbers, December Nikkei manufacturing PMI and services PMI prints are also slated to be released
Global macros: China's Caixin Manufacturing PMI, Japan's and US' manufacturing data points are some of the other global macro
indicators that may have a say in the market direction this week
Domestic auto sales numbersAuto companies will come out with their December sales numbers this week
Liquidity squeeze in the NBFC sector hit auto sales numbers in November and the sector is desperately trying to cope with sluggish sales
Meanwhile, an ET report suggested that the car sales to app-based cab aggregators such as Ola and Uber, which helped shore up volumes amid
several challenges in the past few years, have more than halved in the past two years
The course of crudeCrude oil prices steadied on Friday after trading on a bumpy track for the week
The supply cut of more than one per cent, as agreed upon by the Opec in Russia, will start is January and domestic market may come under
pressure if oil prices move up
RupeeWeakness in dollar against its global peers and a fall in crude oil prices pulled rupee 40 paise higher on Friday to finish at an over
one-week high of 69.95 against the US currency
Market may continue witnessing healthy buying if rupee manages to hold altitude
Technical chart signals cautionEven though market may seem to be in a comfortable position, technically things are a little hazy as
around it throughout the trading session on Friday
However, in the final hour, the index cooled off a bit
