securebank.in/ 4:09 PM: Week Ahead : Global cues, economic data to set the trend; Infosys results eyed After a long weekend, the Indian stock market will open on Tuesday (October 7, 2014), tracking global cues. After just three trading days last week (October 2nd and 3rd were holidays on account of Gandhi Jayanti and Dusserah, respectively), the market has another holiday coming up on Monday (October 6) Bakrid. An upbeat U.S. jobs data that triggered some hectic buying on Wall Street and lifted the major averages to a sharply higher close on Friday (3 October 2014) is likely to aid sentiment to a notable extent. Shares from information technology sector are likley to see some strong buying. However, with strong U.S. jobs data increasing speculation that the U.S. Federal Reserve may start hiking rates soon, the mood may turn cautious on Wall Street on Monday and this could result in a somewhat choppy ride for stocks back home on Tuesday. Apart from global markets and geopolitical news, investors will be closing following the trend in oil prices and the rupees movements against the greenback for some direction early on in the week. Sales and shipments data from automobile and cement manufacturers will also give some direction. On the economic front next week, the HSBC India Services Business Activity Index will be out on Tuesday (7 October 2014). The HSBC PMI had come in at 50.6 in August, down from 52.2 in July. Later, on Friday, the data on industrial production for August 2014 will be out. Industrial growth moderated in July with the index of industrial production edging up 0.5 percent, compared to a growth of 3.9% (revised) in the preceding month. Investors are also looking ahead the reporting season. IT bellwether Infosys will announce its quarterly results on Friday (10 October 2014).
Posted on: Sun, 05 Oct 2014 11:40:06 +0000
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