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  • Weekly Market Quote – Vijay Singhania, Founder-Director, Trade Smart Online, a leading discount brokerage firm

    Published on December 3, 2016

    “Markets sentiments in the coming week  are expected to remain volatile as the focus will shift to key global events like US Federal Reserve policy meet and the Italian referendum. Meanwhile, the Reserve Bank of India (RBI) will meet on Wednesday will also be keenly watched. While the market has factored in a 25 basis point rate cut. But any pause by RBI in expected rate cut, reacting to a Fed decision, could lead to further downside in sentiments.

    Of course, it will be interesting to watch RBI’s monetary policy stance this time in a scenario of government’s recent historic move of demonetization of higher denomination notes and amid easing consumer inflation. In its last meet in October 2016, RBI had cut policy rates by 25 basis points.

    On Monday, Asian stocks will react to the US non-farm payroll data for November 2016.Markets will look at Friday’s non-farm payrolls data in the U.S., the last jobs report before the Federal Reserve meets this month. Focus also switches to Italy’s vote outcome on constitutional reform at the weekend.

    Among other key data release in the coming week includes Market Economics, an independent, global provider of some of the world’s most influential business surveys will unveil the result of a monthly survey on the performance of India’s services sector for November 2016 on Monday.

    Meanwhile, the developments in the ongoing winter session of the Parliament will also be keenly watched. The winter session ends on December 16. The government will try to get key legislations related to the Goods and Services Tax (GST) Bill passed that will help the bill getting implemented from its earlier deadline of April 1, 2017. There was a virtual washout of proceedings barring the passage of the Bill to amend the I-T Act without discussion so far in winter session as opposition continued protests against the government over demonetization issue”.


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