Business Other News 21 Aug 2017 Last set of Q1 resul ...

Last set of Q1 results to dictate terms

DECCAN CHRONICLE. | C KUTUMBA RAO
Published Aug 21, 2017, 12:47 am IST
Updated Aug 21, 2017, 12:47 am IST
Both the CPI and the WPI have risen to 2.36% and 1.9% threatening to derail rate easing hopes.
 Both the CPI and the WPI have risen to 2.36% and 1.9% threatening to derail rate easing hopes.

Despite high volatility, uncertain global cues, weak economic data and the “shocker” from Infosys, markets have shown good resilience and logged gains for the better part of the week ended.

The benchmark indices, Sensex and Nifty closed 311 points and 127 points lower to close at 31,525 and 9,838 respectively.

Mid- and small-cap indices outperformed frontline indices during the week. Expect both to relatively outperform the benchmarks in the ongoing consolidation.

Both the CPI and the WPI have risen to 2.36% and 1.9% threatening to derail rate easing hopes.

After Tata imbroglio and Infosys, analysts are beginning to look at heightened tensions between the board and founders because in every corporate spat, the biggest price is usually paid by the minority shareholders.

Keep track of the talk of a likely strife between India and China over Doklam issue and the escalating tensions on the North Korea front warn observers.
Near-term direction will be dictated by last batch of Q1 results and commentary from AGMs of several companies, progress of monsoon, investment by FIIs and DIIs, the movement of rupee, crude oil prices and global cues.

Regarding US markets analysts say a correction may happen due to the political landscape in the US and are jokingly referring to a possible “blonde swan” — a reference to Mr Trump’s hair color and play on the term “black swan” used to describe market rattling events.

For the week ahead, chartists predict trading range of 31,050-31,950 and 9,650-10,025 for the indices. Support is evident at 31,275 & 31,050 and 9,735 & 9,645.

...




ADVERTISEMENT

More From Other News

-->