Indian Markets Outlook for the week – 18.08.2014 to 22.08.2014
( For Sectorwise Weekly Outlook Watch: www.rupeedesk.in )
With the earnings season ending today and no major triggers on the horizon, market
participants expect share indices to move in a narrow range next week. Global
developments will also be closely watched out for no major events are scheduled on the
domestic front. In global events, minutes of the US Federal Reserve's July policy meeting
will be released on Wednesday.
Back home, the underlying sentiment is positive with the indices having risen for four
straight sessions led by strong buying in large-cap stocks.
We expect indices to touch lifetime highs next week on the back of the positive
sentiment. Nifty may cross the 7800 mark and go above 7840. Nifty could even move up
to 7900 points if the index sustains above 7800-7825 points.
Thursday, National Stock Exchange's 50-share Nifty ended at 7791.70, up 52.15 points or
0.7% from close Wednesday. Intraday, the index touched a low of 7739.10 and high of
7796.10. The S&P BSE's 30-share Sensex closed at 26103.23, up 184.28 points or 0.7%.
During the day, it moved between a low of 25945.35 and a high of 26135.00. Nifty had touched a record high of 7840.95 and Sensex of 26300.17 on Jul 25.
( For Sectorwise Weekly Outlook Watch: www.rupeedesk.in )
