Saturday, January 14, 2012

indian stock futures outlook week jan 16 -20 2012

indian stock futures outlook week jan 16 -20 2012 : Standard & Poor's strips France of its AAA credit rating, rekindling fears in the markets over future of single currency Europe has been plunged into a fresh crisis after France was stripped of its coveted AAA credit rating in a mass downgrade of nine eurozone countries by the ratings agency Standard & Poor's.

The market continued to surge for the second consecutive week on the back of strong global cues emerging from US and Europe. The BSE Sensex registered a gain of 1.8% while Nifty gained over 2% for the week.

The third quarter earning season kicked off with IT giant Infosys Ltd and HDFC Ltd declaring their results on Thursday. Infosys' and HDFC both reported results in line with street and Sharekhan estimates.

However, Infosys lowered the full year revenue growth guidance in US dollar terms to 16.4% against 17.1 - 19.1% revenue growth, which was not accepted well by the markets and the stock tanked close to 9% on a single day.

Further, HDFC too reported its slowest pace of growth in the last 3 years on account of lower investment gains and higher interest costs. On the macro economic front, Index for IIP for the month of November 2011 grew by 5.9% YoY, higher than the street estimates of 2.1%.

From a sectoral perspective, manufacturing output grew by 6.6% YoY vs 6% decline in the previous month, mining output decreased by 4.4% vs a decline of 7.2% in the previous month, and electricity output increased by 14.6% vs 5.6% in the previous month.

On Sectoral front, BSE realty, BSE Power and BSE metal were major gainers rising 13.91%, 8.5% and 10.2% respectively for the week. The BSE IT index was the worst performing index for the week loosing 6.73%.

On the global front, strong bond auctions in Italy and Spain dramatically drove down their borrowing costs and lifted investor sentiment, providing a reprieve from Europe's relentless debt crisis.

Further, the jobless claims data in the US came in marginally lower than estimates.The good news is still that the claims are still under 400000 for the ninth time in 10 weeks.

The December US retail sales advanced to 0.1% versus consensus of 0.4% part of which was attributed to the upward revision of November and October numbers.

Going ahead, heavy weights like TCS, HCL Technologies, Wipro, Reliance Industries, JSW Steel, Axis bank and HDFC Bank will be announcing their quarterly results next week.

These results will be keenly watched and will have a further bearing on the markets. Technically, the Nifty has closed in the green on Friday and is now expected to trade in a range with support around 4800.

Source :
- For the latest updates on the stock market, visit Stock Market Today

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