How analysts` see outlook post strong rally last week
Indian benchmark indices outperformed most global peers during the week to settle at over 19-month high. Sensex ended comfortably above the 19,000 mark and Nifty breached 5,800 mark. Advancing global peers, in-line Q2 GDP numbers, continuing strength in the rupee and hopes on reforms helped sentiments. On sectoral front, BSE Consumer durables, Realty and Bankex led the rally. Globally, the passage of the Greek deal and positive comments on the fiscal cliff issue in US, helped global markets gain.
The 30-share index, Sensex surged 833.33 points, or 4.5% over previous week to 19,339.9. On the other hand, the broad based NSE Nifty too gained 253.25 points, or 4.5%, to 5,879.85. Meanwhile, BSE Midcap and Smallcap rallied 4.62% and 3.10% respectively.
The 30-share index, Sensex surged 833.33 points, or 4.5% over previous week to 19,339.9. On the other hand, the broad based NSE Nifty too gained 253.25 points, or 4.5%, to 5,879.85. Meanwhile, BSE Midcap and Smallcap rallied 4.62% and 3.10% respectively.
We have collated views of experts on how they see outlook ahead. The same are as follows:
Dipen Shah, head of PCG Research, Kotak Securities:
Dipen Shah, head of PCG Research, Kotak Securities:
'''Further, expectations that, the National Investment Board (NIB) will be set up fast, provided cheer to the beaten down sectors like infrastructure and capital goods. Going ahead, we expect the Government reforms initiatives, RBI policy meeting and developments on the 'fiscal cliff' issue, to hold the attention of the markets. If the Government is able to push through some of the important reform initiatives, the markets will gain further, especially the beaten down sectors like infrastructure, capital goods, public sector banks, etc. This may also provide the much-needed support to the rupee.''
Rakesh Goyal, senior vice president, Bonanza Portfolio:
''Market outlook turns to positive now and buying may be considered in dips. In the coming sessions, market is likely to see consolidation in upper range of 5,950-5,800 level. Above 5,890, likely upward targets are 5,950-6,000. Support may be seen from 5,825-5,775 levels and resistance near 5,890-5,925.''
Alex Mathews, head research, Geojit BNP Paribas:
''For the Indian markets, the vote on the FDI in multi brand retail which is scheduled on December 6 and 7 on both the houses of Parliament may act as a trigger.''
Rakesh Goyal, senior vice president, Bonanza Portfolio:
''Market outlook turns to positive now and buying may be considered in dips. In the coming sessions, market is likely to see consolidation in upper range of 5,950-5,800 level. Above 5,890, likely upward targets are 5,950-6,000. Support may be seen from 5,825-5,775 levels and resistance near 5,890-5,925.''
Alex Mathews, head research, Geojit BNP Paribas:
''For the Indian markets, the vote on the FDI in multi brand retail which is scheduled on December 6 and 7 on both the houses of Parliament may act as a trigger.''
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