Click the Below Links To View Reports
========================================================================Bank Stocks Outlook for the week – 27 to 31.10.2014
========================================================================
( www.rupeedesk.in )
Benchmark share indices are expected to move in a narrow range next week as action may be
largely stock-specific with Jul-Sep earnings reports coming in from companies. Today the stock
market closed for Bali Pratipada. Global developments may also move the market, and will be
closely watched by investors.
For next week, on the global front investors will wait for cues from (US) Fed on interest rates.
Also, the Fed is expected to end stimulus. Further cues from the European Central Bank on
stimulus will be awaited.
On the domestic front, the formation of a new government in Maharashtra may also affect the
course of the market next week. The bias is slightly positive after the National Stock Exchange's
50-share Nifty closed above the 8000-mark for the first time since Sep 24.
Indian stock exchanges had special Muhurat trading for Diwali yesterday. Yesterday, Nifty
ended at 8014.55, up 18.65 points or 0.2% from close Wednesday, and S&P BSE's 30-share
Sensex closed at 26851.05, up 63.82 points or 0.2%.
Both Sensex and Nifty have gained around 27% each from last Diwali and market participants
hope that the fireworks will continue in the backdrop of optimism that the new government will
bring in more investor-friendly reforms and bring India back to the growth path.
Besides other things, Jul-Sep results of companies will lend direction. Among Nifty constituents,
Hindustan Unilever, Lupin, Dr Reddy's Laboratories, Grasim Industries, Sesa Sterlite, Tech
Mahindra, ACC, Ambuja Cements, Bharti Airtel, ICICI Bank, IDFC, Maruti Suzuki India,
Mahindra & Mahindra, NMDC and NTPC will detail their earnings over the next week.
Stocks of banks are expected to rise next week, with private banks gaining more than their
public-sector peers. The Bank Nifty is seen moving in the range of 16000-16950 points.
Auto companies are also seen rising further on expectations of robust sales on Diwali.
Wipro shares may see some more weakness as the technology major posted disappointing quarter earnings. Yesterday, the stock ended down nearly 4%.
