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FMCG Stocks Outlook for the week – 27 to 30.04.2015
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( www.rupeedesk.in )
Domestic indices are expected to trade with a negative bias next week with concerns over minimum alternate tax, weak rupee and disappointing corporate earnings weighing on sentiment. Investors will watch out for companies detailing their Jan-Mar results, and the expiry of the April futures contract.
ICICI Bank, Bharti Airtel, Maruti Suzuki, Idea Cellular, Ambuja Cements, Housing Development Finance Corp, Sesa Sterlite, Axis Bank, and IDFC are some of the major companies that will detail their earnings next week. UltraTech Cement will detail its Jan-Mar earnings on Saturday.
On the global front, the outcome of the US Federal Open Market Committee's two-day monetary policy meeting on Wednesday will be closely watched for cues on when the central bank plans to start hiking interest rates. Progress on Greece's debt talks will also be watched es Euro area's finance ministers are scheduled to meet in Brussels today to discuss repayment of the country's massive debt.
Indices yerterday closed near their crucial support levels and a breach of those levels could see them falling sharply. We expect our view 8250 points as a crucial support for the National Stock Exchange's Nifty.
Yesterday, the 50-stock Nifty ended at 8305.25 points, down 93.05 points or 1.1% from Thursday after moving between a low of 8273.35 and a high of 8413.30 intraday. The 30-share Sensex closed at 27437.94, down 297.08 points or 1.1%. During the day, the index touched a low of 27344.70 and a high of 27829.11.
( www.rupeedesk.in )
