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Telecom Stocks Outlook for the week – 07 to 10.10.2014
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Domestic stock indices are seen moving in a narrow range next week, while keeping a hawk's
eye on Jul-Sep corporate earnings, that will be kick-started by information technology major
Infosys on Oct 10. Prior to that, when indices open after a five-day break on Tuesday, the trend in global equity markets will be the guiding factor.
eye on Jul-Sep corporate earnings, that will be kick-started by information technology major
Infosys on Oct 10. Prior to that, when indices open after a five-day break on Tuesday, the trend in global equity markets will be the guiding factor.
Broadly, the National Stock Exchange's Nifty is seen moving in the 7850- 8050-point range.
Today, the index ended at 7945.55, down 19.25 points or 0.2% from close Tuesday. S&P BSE's 30-share Sensex closed at 26567.99, down 62.52 points or 0.2%.
Today, the index ended at 7945.55, down 19.25 points or 0.2% from close Tuesday. S&P BSE's 30-share Sensex closed at 26567.99, down 62.52 points or 0.2%.
All eyes are on Infosys' earnings, and with the stock trading near all- time high levels, market participants expect more gains in the stock. Not just Infosys, most major frontline IT stocks are near record high levels or at multi-year highs on expectations of robust quarterly results and week rupee, and analysts expect hope of the same to drive these shares up further.
This will be the company's first quarterly earnings announcement after Vishal Sikka took charge as Chief Executive Officer and Managing Director from Aug 1. His appointment was announced on Jun 12. Q2 is the strongest quarter seasonally for IT companies...For Infosys, strategy under Sikka going forward will be watched, Apart from Infosys' result, market participants will also watch out for Index of Industrial Production data for August, which will be detail post market hours on Oct 10.
Market participants are positive on the IT and pharmaceuticals sector and said rate sensitive
sector shares such as banks and capital goods will trade firm, but not witness as much gains as defensive stocks.
Automobile sector companies that gave strong sales numbers for September may continue to move higher. TVS Motor Co may rise as September total sales increased 27% on year but Tata Motors may come under pressure as its total sales declined 8% on year during the month.
Apollo Tyres may advance as foreign institutional investment limit in the company was hiked to 45% from 40% earlier.
( www.rupeedesk.in )
