Indian Market Outlook For The Week – 11 To 15.12.2017
The stock indices are seen volatile next week with key events, including release of domestic economic data, Assembly elections in Gujarat, and the US Federal Reserve's policy review lined up. Sentiment for domestic equities, however, remains positive, given that opinion polls predict a win for incumbent Bharatiya Janata Party in Gujarat, and due to renewed value-buying by institutional
investors. However, investors will closely monitor the exit polls. A win for BJP would mean at least a 2% rise for the Nifty 50. If the market perceives that the BJP is losing its foothold in Prime Minister Narendra Modi's home ground, then a sharp correction could follow. Data on Consumer Price Index-based inflation for November and Index of Industrial Production for October will also be closely monitored. On the global front, the US central bank's decision on interest rates and commentary on future course of action, including the reduction of its balance sheet, will also provide cues. The Nifty 50 is seen in a range of 10000-10400 points next week. Yesterday, the 50-stock index ended at 10265.65, up 98.95 points or 1% from the previous close, while Sensex closed at 33250.30 points, up 301.99 points or 0.9%.
Source : Cogencis Information Services Ltd.
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The stock indices are seen volatile next week with key events, including release of domestic economic data, Assembly elections in Gujarat, and the US Federal Reserve's policy review lined up. Sentiment for domestic equities, however, remains positive, given that opinion polls predict a win for incumbent Bharatiya Janata Party in Gujarat, and due to renewed value-buying by institutional
investors. However, investors will closely monitor the exit polls. A win for BJP would mean at least a 2% rise for the Nifty 50. If the market perceives that the BJP is losing its foothold in Prime Minister Narendra Modi's home ground, then a sharp correction could follow. Data on Consumer Price Index-based inflation for November and Index of Industrial Production for October will also be closely monitored. On the global front, the US central bank's decision on interest rates and commentary on future course of action, including the reduction of its balance sheet, will also provide cues. The Nifty 50 is seen in a range of 10000-10400 points next week. Yesterday, the 50-stock index ended at 10265.65, up 98.95 points or 1% from the previous close, while Sensex closed at 33250.30 points, up 301.99 points or 0.9%.
Source : Cogencis Information Services Ltd.
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