Markets to make a flat but positive start

25 Jul 2017 Evaluate

The Indian markets extending their gaining momentum surged by over half a percent in the last session, with Nifty coming very close to the record highs of 10000. Today, the start is likely to be flat but in green and all eyes will be on the two-day policy review of the US Federal Reserve beginning later today. On the domestic front, traders will be eyeing lots of important earnings to get direction. The major will be Bharti Airtel, which may report over 80 per cent year-on-year fall in net profit for the first quarter ended June 30, 2017. Telecom stocks will also be in action on report that telecom operators could get some relief, as a draft recommendations of the government-appointed inter-ministerial group’s (IMG) were discussed at a recent meeting between the finance ministry and the department of telecommunications, wherein it was decided to provide some cash flow relief to the operators. The auto sector too will be in focus, as the Deputy Chairman of Rajya Sabha PJ Kurien has called for an all-party meeting today to discuss the Motor Vehicle (Amendment) Bill. Meanwhile, Union Road Transport and Highways Minister Nitin Gadkari has said that driverless cars will not be allowed in India because they will lead to more unemployment.

The US markets made a mixed closing in the last session; the trade remained lackluster ahead of the Federal Reserve's monetary policy announcement on Wednesday. The Asian markets have made a mixed start too and some of the indices are marginally in red. Though, some others are trading higher led by energy stocks as oil extended gains after Saudi Arabia promised deep cuts to crude exports next month to help ease a global glut.

Back home, bulls tightened their grip on Dalal Street and frontline gauges ended the Monday’s trade at fresh all time closing high levels, with Sensex and Nifty surpassing their crucial 32,200 and 9,950 marks respectively. Traders remained optimistic since morning with markets making a positive opening on report that retaining its growth forecast of 7.2% for India for the current fiscal year, the International Monetary Fund (IMF), in its latest update report ‘World Economic Outlook, July 2017’ said that the country would grow at 7.7% in 2018-19, keeping growth rates forecast in line with the April 2017 forecast. Traders also took some encouragement with India Meteorological Department’s (IMD) statement that the cumulative rainfall received till Sunday across the country was 103% of the benchmark long period average (LPA). Both the north-west and central parts of the country have received ‘excess’ rainfall with 116% and 113% of LPA, respectively. Markets extended their northward journey and hit all time highs in noon deals, as some support came with Union minister Nitin Gadkari’s statement that the Goods and Services Tax (GST) will accelerate the growth and ease of doing business and help in nation building. Besides, as per Reserve Bank of India (RBI) data, the country’s foreign exchange reserves rose by $2.681 billion to touch a new life-time high of $389.059 billion in the week to July 14, helped by increase in foreign currency assets (FCAs). Meanwhile, NITI Aayog Vice Chairman Arvind Panagariya, despite acknowledging creation of “good jobs” in India remains a big challenge, has said that India’s economic growth rate is likely to be 7.5% for the current financial year. Finally, the BSE Sensex surged 216.98 points or 0.68% to 32,245.87, while the CNX Nifty was up by 51.15 points or 0.52% to 9,966.40.

Build a Stress-Tested Portfolio.

Our Sapphire Advisory uses the ABC Concept to ensure you never have to panic during a market correction.

Core Stocks

STABILITY

Booster Stocks

GROWTH

Amplifier Stocks

ASYMMETRY

● Conflict-Free ● SEBI Registered ● 15Y+ Track Record

Markets to make a flat but positive start

MoneyWorks4Me Premium

Follow us at

MoneyWorks4Me

About MoneyWorks4Me

Our Vision

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.