|Chennai||Rs. 24840.00 (-0.36%)|
|Mumbai||Rs. 25460.00 (-0.16%)|
|Delhi||Rs. 25450.00 (2.21%)|
|Kolkata||Rs. 25000.00 (0%)|
|Kerala||Rs. 24700.00 (0%)|
|Bangalore||Rs. 25050.00 (1.42%)|
|Hyderabad||Rs. 24930.00 (1.63%)|
The Indian stock market is likely to open on a firm note next week (July 8 - 12, 2013), tracking a positive lead from Wall Street where stocks moved higher on Friday on the back of upbeat U.S. jobs data. Though the better-than-expected report on non-form payroll data may prompt the U.S. Federal Reserve to start winding up its asset purchase program befor the end of this year, the mood was fairly bullish on the street on Friday.
With the reporting season set to start with IT bellwether Infosys slated to come out with its quarterly results on Friday (12 July 2013), the mood may remain a bit cautious during the earlier part of the week.
The data on industrial output for May 2013 and inflation data for urban and rural India for the month of June will also be out on Friday (12 July).
Another significant factor that will set the trend is the rupee's movements against the U.S. dollar. After coming back fairly strongly after plunging to an all-time low of 60.76 against the greenback on 26 June, the partially convertible Indian currency faltered last Wednesday and continued to display weakness through the remainder of the week.
In the event of the rupee losing notable ground against the dollar, one will get to see a fairly impressive rally in the IT space. Pharmaceuticals stocks are also likely to find good support.
Crude oil prices will also make an impact on the stock market. The mood, for the better part of the week, is likely to be cautious and movements, quite choppy with a few volatile spells.