Weekly Stock Market Fundamental View - May 29, 2017

Share On:

Weekly Stock Market Newsletter - Finappleideas

Finappleidea logo
 
May 29, 2017
 

Dear Member,


Domestic stocks logged strong gains last week led by steady buying in index heavyweights ITC, ICICI Bank and Infosys. The S&P BSE Sensex, scaled record high above the psychological 31,000 mark. The Sensex and the Nifty, both, hit record closing high. Last week, the Sensex jumped 563.29 points or 1.85% to settle at 31,028.2. The Nifty 50 index surged 167.20 points or 1.77% to settle at 9,595.10, a record closing high. The S&P BSE Mid-Cap index fell 124.10 points or 0.85% to settle at 14,519.90. The S&P BSE Small-Cap index fell 140.81 points or 0.92% to settle at 15,086.26


Domestic and global macroeconomic data, Q4 results of India Inc., trend in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), the movement of rupee against the dollar and crude oil price movement will dictate trend on the bourses in week ahead.Among sector specific activity, auto stocks will be in focus as these companies will start reporting sales volume data for May 2017, starting from Thursday, 1 June 2017. State-run oil marketing companies (PSU OMCs) will be in focus as PSU OMCs will undertake fuel price revision towards the closing of this month. The arrival of monsoon rains and its progress will be closely watched. The South-West monsoon is likely to make its onset over South Kerala during May 30-31, around the time earlier predicted by India Met Department (IMD). The June-September South-West monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation.


On the macro front, the government will announce data on Q4 March 2017 gross domestic product (GDP) on 31 May 2017. GDP had grown marginally lower, at 7%, in the Q3 December 2016, down from 7.4% in Q2 September 2016.Markit Economics will announce the India Manufacturing Purchasing Managers' Index (PMI) data for May 2017 on 1 June 2017. The Nikkei Manufacturing PMI in India stood at 52.5 in April 2017, the same as in March. On the global front, China Caixin manufacturing PMI data for May 2017 will be announced on 1 June 2017. US Markit Manufacturing PMI for the month of May 2017 is slated to be released on 1 June 2017.


INVESTMENT QUOTES

Know what you own, and know why you own it - Peter Lynch

I like businesses that I can understand. Let's start with that. That narrows it down by 90%. There are all types of things I don't understand, but fortunately, there is enough I do understand - Warren Buffett

An investor should ordinarily hold a small piece of an outstanding business with the same tenacity that an owner would exhibit if he owned all of that business. - Warren Buffett

Invest in stock picks recommended by Finapple Ideas and earn realistic high returns!

 
Know how?
 
Give us a missed call on 02233488105 (It’s Free!)
 
Performance Summary!
Success Rate (Annualized)
94%
  Realistic Annualized Returns
57%
 
 
We booked profit for our most of the stock recommendations to maintain & preserve investor's wealth with realistic returns!
 
Click Here!   
 
Featured on:
 
 
C24, 6th Floor, K K Market, Dhankawadi, Pune, 411043, Maharashtra, Phone: 020 4005 4455, Mobile: +91 91686 22445
Email: care@finappleideas.com