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Week Ahead: Market likely to remain sideways

Source : SIFY
Last Updated: Sun, Jan 06, 2013 03:48 hrs
BSE Sensex seen opening lower, GDP data eyed

​The Indian stock market is likely to move in a tight range for most part of the coming week, with investors all set to gear up for the reporting season that will start with IT bellwether Infosys Ltd.'s quarterly numbers and earnings forecast on Friday, 11 January 2013.

Investors will also be eyeing the industrial output data for November 2012. But then, the data is due for release only a week later, on 14 January 2013, to be precise. The data on inflation in December will also be out on the same day.

The week will start with the market tracking cues from Asian markets, where some buying is likely on Monday following some upbeat U.S. economic data. On Friday, the US Labor Department said U.S. employment rose in line with estimates in December. An unexpected surge in economic activity too aided sentiment on Wall Street on Friday.

In the midst of the reporting season, the Reserve Bank of India will come out with its monetary policy review (on 29 January 2013). The central bank, which left the repo rate unchanged in December 2012, citing high inlation, is quite unlikely to cut rates this time around as well.

Betting on hopes the government will come out with a somewhat market-friendly budget, investors may indulge in some heavy buying at times.

Automobile stocks will remain in focus, with data on December sales continuing to give some direction. Though some buying is likely in the realty space, most of these stocks may find it tough to hold at higher levels. Metal stocks will track movements on the London Metal Exchange.

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