Indian Markets Outlook for the week – 28.07.2014 to 01.08.2014
( For Sectorwise Weekly Outlook Watch: www.rupeedesk.in )
In the run-up to the expiry of the July futures and options contracts next week,
benchmark indices are expected to be volatile. Trading action may remain stock-specific
amid earnings for the June quarter. Volatility is expected to spike up as the expiry week
is shortened by a holiday on Tuesday for Ramzan. July derivatives contracts will expire
on Thursday.
A host of index heavyweights will detail their Apr-Jun earnings next week. These include
fast moving consumer goods behemoths Hindustan Unilever and ITC, which will
announce their results on Monday and Tuesday respectively. Capital goods major and
market trendsetter Larsen & Toubro will also detail its earnings on Monday.
Through the week, Bank of Baroda, Bharti Airtel, IDFC, Sesa Sterlite, Dr.Reddy's
Laboratories, Lupin, DLF, HCL Technologies, ICICI Bank, Maruti Suzuki India, NTPC
and Tech Mahindra will report their earnings for the Apr-Jun period. United Spirits will
announce its numbers for the quarter ended March on Friday.
On the global front, investor attention will be on the two-day meeting of the US Federal
Open Market Committee, which concludes on Wednesday. The impact of the meeting's
outcome on Indian equities will be evident on Thursday. Towards the end of the week,
investor attention will turn to automobile sales numbers. From August 1 onwards, July
sales of auto players will start trickling in.
Through the action-packed next week, the National Stock Exchange's 50-share Nifty is
seen moving in the range of 7650-7900 points. Yesterday, benchmark indices ended 0.5%
lower, coming out of eight consecutive sessions of gains, as profits were taken off the
table post the breathless rally.
Even though the National Stock Exchange's 50-share Nifty and the 30-share S&P BSE
Sensex remained largely in the red throughout the session, a brief recovery saw them
hitting lifetime highs of 7540.95 points and 26300.17 points respectively.
Intraday, the Nifty hit a low of 7748.60 points, while the Sensex's low was 26007.31
points. The Nifty closed at 7790.45, down 40.15 points or 0.5%, and the Sensex closed at 26126.75, down 145.10 points or 0.5%.
( For Sectorwise Weekly Outlook Watch: www.rupeedesk.in )
( For Sectorwise Weekly Outlook Watch: www.rupeedesk.in )
