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Prof. Tariq Mansoor is presently serving as the Vice-Chancellor, Aligarh Muslim University, Aligarh. Previously he has also served as Principal, J.N. Medical College, Chief Medical Superintendent, J.N. Medical College Hospital and Chairman, Department of Surgery. He is also the member of Medical Council of India since March 2015 for a period of four years. He is product of the first batch of prestigious Our Lady of Fatima Higher Secondary School, Aligarh. During his school days he has served as House Captain as well as School Captain. He did his MBBS and MS in General Surgery from Jawaharlal Nehru Medical College, AMU, Aligarh. A surgeon by profession with special interest in Breast and Thyroid Diseases, Prof. Tariq Mansoor has 33 years of Teaching and 35 years of Clinical experience. He has 90 publications to his credit and has guided 49 Postgraduate Medical Students for their Thesis as Supervisor / Co-Supervisor

Quarterly results to influence equity market’s movement (Market Outlook)

By Rohit Vaid,

Mumbai : The ongoing earnings result season, along with macro-economic inflation and trade data points, are expected to influence the Indian equity market next week.

Market observers opined that global crude oil prices and the rupee’s movement against the US dollar will act as other major triggers.

“Markets next week will continue to focus on earnings of corporates such as Zee, Bharti, Adani, Wipro, MindTree, etc. Earning results, so far, have been in line with expectations,” Devendra Nevgi, Founder and Principal Partner, Delta Global Partners, told IANS.

Companies like Hindustan Unilever, Adani Ports & SEZ, Bharti Airtel, ITC, Hindustan Zinc, UltraTech Cement, HDFC Bank, Reliance Industries and Wipro are expected to announce their quarterly results in the coming week.

Besides Q3 results, investors will look out for upcoming macro-economic inflation data points such as the WPI (Wholesale Price Index) and Balance of Trade figures.

Market participants will also give their first reaction to the IIP (Index of Industrial Production) and CPI (Consumer Price Index) figures which were released after the market hours on Friday (Jan 12).

“Over the next week, market will react to the sharp jump in IIP for November to 8.4 per cent and CPI for December to 5.2 per cent. Restocking in the consumer non-durables space and healthy activity in the capital goods sector are responsible for the sharp increase in IIP,” Anindya Banerjee, Deputy Vice President for Currency and Interest Rates with Kotak Securities, told IANS.

In terms of investments, provisional figures from the stock exchanges showed that domestic institutional investors (DIIs) purchased stocks worth Rs 2,383.11 crore during the week, while foreign institutional investors (FIIs) sold company scrips worth Rs 965.16 crore.

Figures from the National Securities Depository (NSDL) revealed that foreign portfolio investors bought equities worth Rs 554.03 crore, or $88.34 million, during January 8-12.

On the currency front, the rupee weakened by 26 paise to close at 63.63 against the US dollar from its last week’s close at 63.37.

“As far as levels are concerned, we look forward to 63.25-30 as the near-term support for USD-INR and 63.90-64 as a major resistance,” Banerjee said.

As per technical readings, Nifty is expected to surge higher and breach new record highs during the upcoming week.

“Technically, with the Nifty surging higher to new record highs, the underlying intermediate uptrend remains intact,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.

“Further upsides are likely once the immediate resistances of 10,690 points are taken out. Weakness could emerge if the supports of 10,490 points are broken.”

Last week, “consistent investments” from domestic institutions propelled the the key equity indices — the Sensex and the Nifty50 — to close at record high levels.

Consequently, the barometer 30-scrip S&P Sensex of the Bombau Stock Exchange surged by 438.54 points or 1.28 per cent to 34,592.39 points.

Similarly, the wider Nifty50 of the National Stock Exchange made healthy gains. It rose 122.4 points or 1.16 per cent to 10,681.25 points.

(Rohit Vaid can be contacted at rohit.v@ians.in)

—IANS

The post Quarterly results to influence equity market’s movement (Market Outlook) appeared first on Muslim Mirror.



from Muslim Mirror

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