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Week Ahead: Market likely to move in tight range

Source : SIFY
Last Updated: Sun, Nov 11, 2012 07:05 hrs
BSE Sensex seen opening lower, GDP data eyed

Stock prices are likely to move in a tight band for a better part of next week, a truncated one due to holidays on Tuesday and Wednesday for Diwali.

With the reporting season almost over, investors are likely to track global markets for direction. There will be brief trading session on Tuesday (3.45 pm to 5 pm), but not much activity is likely on that day as institutional investors are mostly likely to stay away from the market.

Some downbeat economic data from China and a few downward revisions on GDP growth forecasts of some key Asian and European countries, worries about slowing Indian economy are likely to render the mood cautious next week.



With Wall Street ending flat on Friday, most of the markets in the Asian region are expected to open on a cautious note with a slightly negative bias, on Monday. Back home, the data on industrial output for the month of September, to be released that day, will provide some cues for the week. The inflation data, to be released on Wednesday, will set the trend for the later part of the week.

Investors are likely to track quarterly numbers for direction. ONGC, State Bank of India, Tata Steel and SAIL may see some weak spells due to disappointing results.

Shares from rate sensitive realty, banking and automobile sectors may see some activity, amid hopes the central bank will resort to some monetary easing early next year. But a sustained upmove will remain elusive.

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