Benchmark stock indices are expected to be volatile next week on account of expiry of
the February futures and options contract. This month, the derivatives contract will expire
on Wednesday because on Thursday, market will remain shut for Mahashivratri. The
underlying sentiment has again turned positive after indices recouped most losses from
the previous session to end about 1% higher on the back of short covering ahead of the
expiry. Yesterday's gains were led by stocks of cement, metals, and select other index
heavyweights.
The National Stock Exchange's 50-share Nifty ended above the technically important
6150-mark at 6155.45, up 64.00 points or 1.0% from Thursday. Intraday, the index
moved between 6108.00 and 6159.65. S&P BSE's 30-scrip Sensex closed at 20700.75, up
164.11 points or 0.8%. Intraday, it moved between 20599.91 and 20725.04. MCX Stock
Exchange's SX40 ended at 12400.04, up 74.80 points or 0.6% after testing a low of
12320.61 and a high of 12413.56 intraday. Due to the lack of any major triggers, market
participants are of the view that movement in local equities is likely to be rangebound
next week.
Nifty expiry is likely to be close to 6120 points. Yesterday, frontline cement companies
ended 5-6% higher. Among specific stocks, more weakness is seen in stocks of Bharti
Airtel. We expects the stock to decline up to 280 rupees in the near term. Yesterday,
stocks of Bharti Airtel were the worst hit on Nifty, ending down 2.9% at 288.15
rupees. A further fall is also seen in stocks of Shree Renuka Sugars, which ended at 21.05
rupees yesterday, down 6%.
On Monday, stocks of DCM Shriram Consolidated are likely to be in focus, as the
company, on Saturday, will mull ways to reward shareholders. In anticipation
of a favourable outcome, the stock has gained nearly 13% since the announcement on
Wednesday post market hours. On the macro-economic front, the gross domestic product
for Oct-Dec will be eyed by investors. The Central Statistics Office will release the GDP
data on Friday. In Jul-Sep, India's GDP growth stood at 4.8%.
the February futures and options contract. This month, the derivatives contract will expire
on Wednesday because on Thursday, market will remain shut for Mahashivratri. The
underlying sentiment has again turned positive after indices recouped most losses from
the previous session to end about 1% higher on the back of short covering ahead of the
expiry. Yesterday's gains were led by stocks of cement, metals, and select other index
heavyweights.
The National Stock Exchange's 50-share Nifty ended above the technically important
6150-mark at 6155.45, up 64.00 points or 1.0% from Thursday. Intraday, the index
moved between 6108.00 and 6159.65. S&P BSE's 30-scrip Sensex closed at 20700.75, up
164.11 points or 0.8%. Intraday, it moved between 20599.91 and 20725.04. MCX Stock
Exchange's SX40 ended at 12400.04, up 74.80 points or 0.6% after testing a low of
12320.61 and a high of 12413.56 intraday. Due to the lack of any major triggers, market
participants are of the view that movement in local equities is likely to be rangebound
next week.
Nifty expiry is likely to be close to 6120 points. Yesterday, frontline cement companies
ended 5-6% higher. Among specific stocks, more weakness is seen in stocks of Bharti
Airtel. We expects the stock to decline up to 280 rupees in the near term. Yesterday,
stocks of Bharti Airtel were the worst hit on Nifty, ending down 2.9% at 288.15
rupees. A further fall is also seen in stocks of Shree Renuka Sugars, which ended at 21.05
rupees yesterday, down 6%.
On Monday, stocks of DCM Shriram Consolidated are likely to be in focus, as the
company, on Saturday, will mull ways to reward shareholders. In anticipation
of a favourable outcome, the stock has gained nearly 13% since the announcement on
Wednesday post market hours. On the macro-economic front, the gross domestic product
for Oct-Dec will be eyed by investors. The Central Statistics Office will release the GDP
data on Friday. In Jul-Sep, India's GDP growth stood at 4.8%.
