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Sunday, July 22, 2012

Indian stock market for july 23-27 2012

Indian stock market for july 23-27 2012 : The Indian markets ended the week marginally lower with the markets reacting to events like Inflation, ahead of RBI policy and earnings of blue-chip companies. Both Sensex and Nifty ended the week in red declining over 0.30 per cent.

The markets may remain volatile next week as traders roll over positions from the near-month July 2012 series to August 2012 series. The June 2012 derivatives contracts expire on Thursday, (July 26, 2012).

Stock-specific action will be at the fore as the first quarter June 2012 earnings season is underway.

Important results slated to come out next week includes those of Larsen & Toubro Ltd, Wipro, HUL, Tata global Beverages Ltd, Lupin Ltd, Ashok Leyland Ltd, Dabur India Ltd & Torrent Pharma Ltd.

In terms of PAT estimates, L&T is expected to post PAT of Rs 829.3 crores (11.1 per cent YoY), Wipro, the IT services major is expected to post EBIT of Rs 1860.1 crores (18.2 per cent YoY) while Hindustan Unilever is expected to post a PAT of Rs 709 crores.

On the global front, the United States and Britain will release their first estimates of second quarter growth while a survey of purchasing managers' intentions across the euro zone will also hit the market along with a steady flow of corporate earnings.

Indian markets are likely to exhibit volatility on account of forthcoming expiry and the undergoing earning season. In terms technical outlook for markets, the Nifty has closed in the negative territory on Friday and is now expected to bounce till 5280 with support around 5174 in the short term. The index will face resistance at 5260.

The counting of votes and voting results for election of the country's 13th president with UPA nominee Pranab Mukherjee against BJP-backed candidate P.A. Sangma for the post is scheduled on Sunday (July 22, 2012). Polling for the presidential elections took place on July 19, 2012.

The Reserve Bank of India (RBI) will announce its first quarter review of the Monetary Policy 2012-13 on July 31, 2012. The RBI unexpectedly left its key lending rate unchanged at its last meeting in June 2012, citing inflationary concerns.

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