INSUBCONTINENT EXCLUSIVE:
Mumbai: After reaching new landmarks in the last couple of trading sessions, the key Indian equity indices are likely to witness another
eventful week, with major quarterly earnings and a key macro-economic data point, the Wholesale Price Index, due in the next few days
According to market observers, further developments in the ongoing trade tensions between the US and China also would set the cues for the
global markets.According to Geojit Financial Services' head of research, Vinod Nair: "Market is expecting 19 per cent growth in PAT (profit
after tax) for Sensex index stocks and 14.7 per cent for Nifty50 index stocks in Q1, FY19 compared to a washout in last quarter.""From here
Quarterly Results: "The markets next week would look forward to the earnings season as larger companies such as HUL (Hindustan Unilever),
Bajaj group of companies will come out with their results," said Devendra Nevgi, founder and Principal Partner at Delta Global
Partners.Gaurav Jain, Director of Hem Securities said: "We will continue to see stock-specific approach as heavyweights like HDFC Bank,
Hindustan Unilever, Ashok Leyland, Zee Entertainment, Ultratech Cement, MindTree, Bajaj Finance, and Kotak Mahindra Bank are scheduled to
report their quarterly earnings."2
Macro data: On the macro front, the government will announce wholesale price inflation (WPI) for June 2018 on Monday, July 16, Mr Jain
Retail inflation accelerated to a five-month high of 5 per cent in June, from 4.87 per cent in the previous month, official data showed last
Global trade war: Further, on the global side, markets would be hoping for easing of trade related issues between the US and China, said
Crude oil prices: Noting the significance of oil prices, Mr Zarbade said: "Crude oil prices have corrected a bit and further softening in
prices would be positive for global markets".In the week ended Friday, fall in crude oil prices was a major factor for the positive trend in
the global and domestic equity markets.As per Delta Global Partners' Nevgi, the fall in crude prices and weaker US dollar would help the
sentiments in the rupee market.5
Rupee-Dollar rate: On Friday, the Indian rupee closed at 68.53, strengthening by 35 paise from its previous week's close of 68.88 per
greenback.Talking on the investor sentiments in the Indian equity market, Nevgi told IANS, the support comes from domestic investors as
foreign ones continue to be net sellers.In the week gone by, provisional figures from the stock exchanges showed that foreign institutional
investors sold scrip worth Rs 1,801.65 crore, while the domestic institutional investors purchased stocks worth Rs 2,288.08 crore.On Friday,
the Nifty50 closed at 11,018.90 points -- up 246.25 points or 2.29 per cent -- from its previous week's close
The Sensex on BSE rose by 883.77 points or 2.48 per cent to close at 36,541.63 points on a weekly basis.On Thursday, the barometer 30-scrip
Sensex touched a record high of 36,699.53 points, only to surpass the level the very next day and set a fresh all-time high of 36,740.07
points.It had also set a new closing high of 36,548.41 points on Thursday.
