INSUBCONTINENT EXCLUSIVE:
performance against the US dollar will influence domestic equity market's trajectory during the upcoming week.Market observers feel that
global crude oil prices and third quarter (Q3) earning results would also influence the market's movement."Global cues and crude oil price
movement will continue to dictate the trend of the market," SMC Investments Advisors CMD D.K
The domestic market is likely to track the global markets going ahead."Globally, concerns over a slowdown in international growth and the
ongoing partial US government shutdown were major themes during the last week's trade.Apart from global cues, investors will look forward to
while global cues will dictate the direction of the market," said Vinod Nair, Head of Research at Geojit Financial Services.Besides Q3
results, macro-economic data points -- such as the eight core industries' (ECIs) output, external debt, PMI manufacturing and services and
monthly automobile sales figures -- will be released during the week starting December 31.According to Sahil Kapoor, Chief Market
Strategist, Edelweiss Investment Research: "Next week markets are likely to face resistance at 11,000 levels which are likely to get tested
Currently the Index is caught in a range of 10,500 to 11,000
A resolution of this range will result in a larger directional move.""Nifty continues to trade at rich valuations despite a de-rating across
We are likely to see Indian multiples getting de-rated in the next few weeks."Additionally, the movement of rupee against the US dollar and
the direction of foreign fund flows will also set the course of key indices."Rupee can be under some pressure on mounting worries on missing
fiscal deficit targets," said Sajal Gupta, Edelweiss Securities' Head of Forex and Rates."A range from 69.80 to 70.50 per USD can be
expected."On a weekly basis, the rupee gained 76 paise to 69.94 against the US dollar from its last week's close of 70.15 per greenback.In
terms of investments, provisional figures from the stock exchanges showed that foreign institutional investors bought shares worth Rs
1,249.6 crore during the week under review.On technical charts, the short-term trend of the National Stock Exchange's (NSE) Nifty50 remains
positive."Further upsides are likely once the immediate resistances of 10,941-10,985 points are taken out
Crucial intermediate supports are now at 10,738 points," HDFC Securities' Retail Research Head Deepak Jasani told IANS.Last week, global
relief rally following the resolution of a standoff between US President Donald Trump and Federal Reserve Chairman Jerome Powell lifted the
equity markets.Consequently, the BSE Sensex rose 334.65 points, or 0.93 per cent, to 36,076.72 points from its previous corresponding weekly
