INSUBCONTINENT EXCLUSIVE:
Market Outlook: Last week was a second straight week of gains for the benchmark indices.Domestic stock markets will be majorly impacted by
the ongoing quarterly results season, along with global trade tensions and the direction of foreign fund flows during the upcoming trade
week, reported news agency IANS
According to market analysts, oil prices and developments in the monsoon session of parliament will also determine the trajectory of major
Companies like Adani Ports, Britannia Industries, Mahindra and Mahindra, Punjab National Bank, TVS Motor Company, Cipla, Lupin, Bharat
Forge, Cummins India and Jet Airways are expected to announce their Q1 earning results next week.According to Teena Virmani, Vice President,
Research, Kotak Securities Ltd, "Going ahead, eyes would continue to remain on trade war related news along with progress of monsoons
domestically which has remained below normal so far
Thus in the current scenario, we prefer bottom-up approach for companies expecting healthy growth in earnings such as IT and banking
Also companies in FMCG, paint and cement are likely to expect healthy volume growth along with infrastructure which is likely to benefit
from increased government spending
Export driven sectors such as IT, Pharma, Textiles and Jewellary are also likely to benefit from currency ."The coming week promises to be
action-packed as big corporate earnings will begin to flow
"We will continue to see stock-specific approach as FO scrips like Adani Enterprises, Arvind, Britannia, Syndicate Bank, Ujjivan, Adani
Enterprises, Mahindra Mahindra and PNB are scheduled to report their quarterly earnings
On the macro front, 24th GST (Goods and Services Tax) council is scheduled to be held
The product prices are expected to rise and GDP growth rates are to stay constant at 7.4%", said Gaurav Jain, Director Hem Securities.Last
week was a second straight week of gains for the benchmark indices
The Sensex recorded a rise of 219.31 points, or 0.59 per cent, while the Nifty gained 82.45 points, or 0.73 per cent, for the week
Market movement during last week was driven by quarterly results, global cues related to trade war between US-China as well as progress on
points to close at 37,556.16 on Friday, marking its biggest single-session gain since May 31, when it had risen 416.27 points
The NSE's Nifty50 index rose 116.10 points to settle at 11,360.80 on Friday
That was the biggest single-day jump for the 50-scrip index since June 29, when it had closed 125.20 points higher.Meanwhile, the rupee had
closed at 68.61 on Friday, strengthening by five paise from its previous week's close of 68.66 per greenback
In terms of investments, provisional figures from the stock exchanges showed that foreign institutional investors (FIIs) sold scrips worth
Rs 403.51 crore in the past week.
