APN News

  • Sun Aug 20 2017 19:07:42 GMT+0530 (IST)
  • IIP and WPI data likely to impact market sentiments in coming week: Amrapali Aadya

    2017-05-12 14:18:17.0
    APN News

    by Mr. Abnish Kumar Sudhanshu, Director & Research Head, Amrapali Aadya Trading & Investments Week ...

    IIP and WPI data likely to impact market sentiments in coming week: Amrapali Aadya

    by Mr. Abnish Kumar Sudhanshu, Director & Research Head, Amrapali Aadya Trading & Investments Abnish-KumarWeek began with the landslide victory of pro-European Union candidate Emmanuel Macron in the French polls, which led the market to trade higher. Further, sentiments got boost after rebound in crude oil prices after record low. IMD forecast of 100% rainfall as against of earlier prediction of 96%, turned indices buoyed on the back of rising prospects of higher agricultural and economic growth, which led the hefty buying in the fertilizer as well as FMCG stocks along with others. However, later part of the week underwent profit taking ahead of key economic indicator data, which is expected in today evening. Coming week is likely to remain watchful as key economic indicator data i.e. IIP, Inflation and WPI are expected to release on Friday after market hours. As per the consensus, we are expecting recovery in IIP data; however inch up in inflation number. These data are likely to throw health of the Indian economy. Apart from that several companies are also lined up their quarterly earnings to declare in the week, even their performance are likely to put impact on the market sentiments. In the past three trading sessions, we have noticed that FII have showcased renewed buying interest in the indices. It would be interesting to note their buying sustainability going ahead. Further, we believe market is already trading at high and to go further high, we need to have better corporate earnings as well as something positive for the bank NPAs. Going ahead in the week, if corporate earnings as well as economic data come as per the expected line then Nifty could touch 9500 with the stop loss of 9366.

    All Right Reserved