Weekly Stock Market Fundamental View Jun 12, 2017

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Weekly Stock Market Newsletter - Finappleideas

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June 12, 2017
 

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Key benchmark indices almost ended on a flat note last week. RBI monetary policy review and general elections in UK were among the important events that kept investors guessing about the direction of market during the week.The Sensex fell 11.23 points or 0.03% to settle at 31,262.06. The Nifty advanced 14.75 points or 0.15% to settle at 9,668.25.Broad market depicted strength. The S&P BSE Mid-Cap index rose 0.49%. The S&P BSE Small-Cap index advanced 1.55%. According to latest depository data, FPIs have pulled out Rs. 289 cr. from equities during June 1-9, while they poured in Rs. 11,734 cr. in debt markets during the period under review, translating into a net inflow of Rs. 11,445 cr. (USD 1.77 billion). With the latest inflow, total investment in capital markets (equity and debt) has reached Rs. 1.3 lakh crore this year


Domestic and global macroeconomic data, 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.Stocks of public sector oil marketing companies (PSU OMCs) will be in focus as a scheduled fuel price revision is due next week.


Investors will keep an eye on the progress of the southwest monsoon rains. The IMD in its second stage forecast of Southwest monsoon seasonal rainfall issued on 6 June 2017 had said that quantitatively, monsoon seasonal rainfall for the country as a whole is likely to be 98% of the long period average (LPA) with an error of ± 4%.


Among macro economic data, the government will announce industrial production data for the month of April 2017 on12 June 2017. The data on inflation based on consumer price index (CPI) or retail inflation for May 2017 will also be announced on that day.The data on inflation based on wholesale price index (WPI) for May 2017 is slated to release on 14 June 2017. India's trade data for the month of May 2017 is scheduled on 15 June 2017.On the global front, US Federal Reserve's monetary policy statement is due on Wednesday, 14 June 2017.


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