INSUBCONTINENT EXCLUSIVE:
SP BSE Sensex closed at 37,947.88 points, higher 78.65 points or 0.21% from its previous week's close.Mumbai: Fears over a rise in global
protectionist measures, along with rupee movement and direction of foreign funds, are likely to chart the course of major domestic equity
indices during the week starting on August 20
"Global risk will drive the market sentiments next week
The news on US-China talks to resolve trade disputes later in the year will boost the sentiment," Devendra Nevgi, Delta Global Partners
Founder and Principal Partner, told IANS."The news emanating from Jackson Hole Symposium, where the US Fed Chairman is expected to comment
on the policy rates, will be watched next week," Nevgi added.Consequently, investors will remain cautious over the possibility of any
impending hike in the US interest rates which can potentially drive away Foreign Portfolio Investors (FPIs) from emerging markets such as
the trend of the market going ahead," SMC Investments Advisors' Chairman and Managing Director D.K
Aggarwal told IANS.According to Anindya Banerjee, Deputy Vice President for Currency and Interest Rates with Kotak Securities, the Indian
rupee is expected to range from 69.50 to 70.50 against the US dollar in the coming week.In recent days, geo-political tensions between the
US and Turkey, wider trade deficit, along with outflow of foreign funds have pulled the Indian rupee to fresh record intra-day and closing
lows.On Thursday, the Indian rupee plunged to an intra-day level of 70.39-40 -- its lowest-ever mark -- against the greenback, prompting
some automobile manufacturers and other import dependent sectors to raise prices.It settled at a record closing low of 70.16 against the US
dollar on Thursday.Besides the rupee, foreign fund inflows into the country might get impacted due to "global risk aversion".In terms of
investments, provisional figures from the stock exchanges showed that foreign institutional investors sold scrips worth Rs 2,028.47 crore
during August 13-16."Emerging market sentiment remains negative which is reflected in the net selling by FPI, and the DII support is vital
for the continued momentum in the markets," Nevgi said.On technical levels, the National Stock Exchange (NSE) Nifty50 remains in an
NSE Nifty 50 -- rose on the back of easing inflation data along with broadly positive global cues.However, a slump in the Indian rupee
limited the gains on equity indices.On a weekly basis, the SP BSE Sensex closed at 37,947.88 points, higher 78.65 points or 0.21 per cent
from its previous week's close.Similarly, the wider NSE Nifty50 made substantial gains
On Friday, it ended at a record closing high of 11,470.75 points, higher 41.25 points or 0.36 per cent from the previous week's close.
