Indian Market Outlook for the week – 26 to 30.09.2016

Indian Market Outlook for the week – 26 to 30.09.2016

 Seen volatile next week before F&O expiry Thu


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   Domestic  equities  are  likely  to  be  volatile  next  week  as  traders  roll  over  positions  to  the  October derivatives contracts ahead of the expiry of the September series on Thursday. Market participants believe  the  index  will  face  strong  resistance  at  the  psychological  9000-point  mark.  In  a  lacklustre session yesterday, the Nifty 50 and S&P BSE Sensex ended 0.4% lowers each at 8831.55 points and 28668.22 respectively. Investors, especially foreign institutional investors, booked profits after buying in the last two sessions. FIIs yesterday net  sold shares worth  nearly 3  bln rupees after net buying over  5  bln  rupees  worth  of  shares  in  the  last  two  days.  The  underlying  bias  for  equities,  though, remains bullish as indices approach their lifetime highs. Some of sectors are being re-rated which is what  the  bull  market  does,  and  identifying  those  trends  can  lead  to decent  capital  appreciation in those stocks.   Market participants are upbeat about pharmaceutical, bank and energy stocks, and  expect them to extend gains next week. The Nifty Bank index is expected to rise towards 20400 points next week, and if traders book profits then losses in the index are seen capped at 19700. Yesterday, the index ended  at  19901.80  points,  down  1%.  Pharmaceutical  stocks  are  likely  to  gain  on  optimism  that regulatory issues around companies in the sector will be resolved in the next one year. On Monday, investors would focus on shares of real estate and infrastructure companies, hotels and hospitals as SEBI has made changes to norms for investing in real estate and infrastructure investment trusts.

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