INSUBCONTINENT EXCLUSIVE:
quarter financial results are expected to turn the equity markets volatile during the coming week.The rupee's movement against the dollar
in the backdrop of Brexit and impact of rising geo-political tensions in the Middle East and its effect on crude oil prices may also affect
Reliance Industries and several others are likely to announce their Q2 earnings results during the week, starting October 14."Developments
over the missile strike on Iranian tanker, Narendra Modi-Xi Jinping summit in Chennai and Brexit issue will sway the investor sentiments,"
said Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services."Over the next few days, few heavyweights will be
announcing results, which could keep the markets volatile," Mr Khemka said.According to Vinod Nair, Geojit Financial Services' Research
Head, the preview analysis of Q2 result is muted due to no real increase in demand and prices, which may impact the market performance
during the month."The August IIP data, which declined to - 1.1 per cent, indicates that the risk of slowdown is likely to reflect in Q2
corporate earnings," Mr Nair said.On Friday, official data showed that contraction in manufacturing activity slowed India's factory output
to the poor August IIP number," said Deepak Jasani, Head of Retail Research, HDFC Securities
data point of the Consumer Price Index (CPI) and the Wholesale Price Index (WPI) for September will be released on October 14
The balance of trade data for September will also be released during the week."Dismal IIP numbers suggest pressure on the rupee and more
rate cuts coming," said Sajal Gupta, Head, Forex and Rates, Edelweiss Securities
The rupee might appreciate a bit within an expected range of 70.60 to 71.30, Mr Gupta added.On technical charts, the NSE Nifty50 remains in
"The Nifty holding above the 50-day SMA and bouncing back this week, the bulls do seem to have an upper hand, at least for the short term,"
Crucial supports to watch for resumption of weakness is now at 11,158," he said.Get Breaking news, live coverage, and Latest News from India
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