Indian Markets Outlook for the week – 22.12.2014 to 26.12.2014
Stock indices are seen in a
narrow range next week due to expiry of the December futures and
options contracts, and on muted
foreign institutional investor activity during the holiday season
abroad. The December derivatives
will expire on Wednesday as Indian markets will be closed
Thursday for Christmas. As
participation from foreign investors is likely to be muted, a lot of
stock-specific activity will be
seen.
We expect a big move only after
the expiry. Sector-wise, the banking space is seen range bound,
in line with the market. The Bank
Nifty has seen a sharp pullback in the past two days and is
overbought.
Among other sectors, we expect
the information technology space to trade with a positive bias
despite volatility in the rupee.
Fast moving consumer goods and pharmaceutical stocks are also
seen trading with a positive
bias.
In the real estate space, we
expect DLF to extend losses next week on news that the Haryana
government has ordered a probe
into reports of missing files pertaining to the controversial
Robert Vadra-DLF land deals.
Stocks of Sun TV Network are also likely to continue their weak trend into the next week.
( www.rupeedesk.in )
