It was a rangebound and volatile week for the Indian share market which traded in no particular direction though the bias. For the last trading day, top Nifty gainers were ICICI Bank, Mahindra & Mahindra and HUL while losers included Jindal Steel & Power, Sesa Goa and Maruti Suzuki.
Share Market Trend For Next Week -
Indian Rupee is expected to consolidate further and head towards 55.70-56.00 per dollar next week, while bond yields are expected to hold in a range ahead of the factory output and inflation data due later in the week. The data may have a more muted impact given widespread expectations the RBI will keep interest rates on hold on July 31, though it could influence expectations for future decisions.
The 10-year benchmark bond is expected to hold in a 8.15 to 8.25 percent band next week with the focus also on domestic debt supplies. Traders said they do not expect open market operations, due to the sharp easing in banking system liquidity.
We will enter the earnings season next week -- with Infosys and TCS coming out with their earning numbers on Thursday. So, we expect market to behave well next week.
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