The week ahead : more volatility on cards ..by J Victor on November 14th, 2016
The Indian markets closed in red last week owing to unexpected de-monetization, surprise US election results and weak macro-economic data. The Sensex and the nifty ended 444 points and 135 points lower at 26,830 and 8,296. As expected, high volatility was seen in almost all the counters.
Going ahead, the investors will be on edge since Mr Trump will take charge only in January 2017 and there is no clue as to what steps he will be taking in order to clamp down on imports of goods and services, as expected by the world economy.
Back in the country , analysts believe that the flushing in of currency into the banks will cause the funds to be channelized to investment vehicles like stocks , mutual funds and Gold and hence , more money s expected to flow into the equity markets soon. For the time being however, de monetization may cause business to dampen, especially in sectors like real estate and consumer durables.
Stock markets will be closed on Monday on account of Guru Nanak Jayanthi. The events to watch out include movement of dollar index , consumer wholesale price index for October , September quarter earnings and FII inflows.
For the week ahead , we expect the markets to trade in a range of 26,200-27,000 for the sensex and 8100 – 8400 for the nifty with negative bias. High Volatility is still on cards.
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