The week ahead: More volatility on cards…by J Victor on November 1st, 2016
The special muhurat trading on Sunday gave up some gains and ended in red as the benchmark Sensex ended lower at 27930. The Nifty also ended in red at 8625.70. Initial gains were wiped off as investors started booking profits. The losses were led by the banking, FMCG and power sectors. Dr Reddy’s, Tata motors, power grid and NTPC were the top losers. However the midcap and small cap indices remained upbeat and closed up .50% and 1% respectively.
Going ahead , the markets are likely to be volatile and the developments in Tata group has certainly made the matters worse. Moreover, the Indian markets will be wary about the expected results of the upcoming US presidential elections. Now, since the countdown has begun, it would be better of investor to wait till the dust settles.
Indian markets are closed on Monday and trading will resume only on Tuesday. Auto stocks will remain as the main focus for the week.
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