INSUBCONTINENT EXCLUSIVE:
concerns over rise in crude oil prices and trade talks between US and China, along with direction of foreign fund flows, will affect
risk-taking appetite of investors, they add."Going forward, market will closely watch guidance and management commentary of companies coming
out with their earnings," DK Aggarwal, CMD, SMC Investments Advisors, told news agency IANS."Besides, third quarter results, macroeconomic
data, trend in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), movement of
rupee against dollar and crude oil price movement will dictate trend of market going forward."In coming week, companies such as Reliance
Industries, Cyient, Hindustan Unilever, Rallis India, ICICI Securities, Multi Commodity Exchange of India, Mindtree, SBI Life Insurance
Company and Wipro are expected to announce their earnings for quarter ended December 31.According to Sahil Kapoor, chief market strategist,
Edelweiss Investment Research: "The breadth of market suggests that underlying strength of broader market is still absent
NSE500 Index which is much broader than Nifty is still trading below its 200DMA.""As we move into thick of result season index is likely to
see a break of this trading range
If index were to trade below 10,700 mark a fall towards 10,400 to 10,500 range is likely and a retest of 2018 lows would also rise in
probability."Apart from Q3 results, investors will look out for upcoming macroeconomic data such as CPI (Consumer Price Index), Wholesale
Index) on Jan 14.Besides, a volatile rupee against US dollar might hamper market's northward moves."The rupee has got concerns from rising
crude and risk of fiscal slippage in poll bound nation any breach above 70.60 levels can take it to 71.50 levels
On lower side 69.80 can be seen if any softness in crude is seen," said Sajal Gupta, head of forex and rates, Edelweiss Securities."Any
positive development on resolution of global trade concerns can be a positive backdrop for rupee to appreciate in coming week."On a weekly
basis, rupee weakened by 77 paise to 70.49 against dollar.In addition, direction of foreign fund flows will be another major theme for
equity market.According to provisional data released by stock exchanges, FIIs remained net sellers to tune of over Rs 500 crore during week
foreign funds, partly owing to an ease in liquidity and hopes of US-China trade war being resolved.Consequently, Sensex gained 314.74
cent, to settle at 10,794.95.
