What to expect from Indian Markets in the week ahead?


 

11/6/23 5:00pm IST

The coming week June 12-16 is going to be an eventful one as US Fed policy outcome for cues, which is scheduled on June 14. In the following sessions, the European Central Bank (ECB) and Bank of Japan will also announce their policy decision. On the macroeconomic front, participants will be tracking IIP data, CPI Inflation and WPI Inflation during the week. Apart from these factors, the updates on progress of the monsoon will also remain on their radar.


“We recommend maintaining a positive stance till Nifty holds 18,400 and suggest focusing on sectors, which are showing relatively higher strength like auto, FMCG & realty and picking selectively from others. In case of a decline, the 18,100-18,200 zone would offer the needed cushion. We feel the prevailing outperformance may continue in the broader indices so continue to add quality stocks from midcap and smallcap space," said Ajit Mishra, SVP - Technical Research, Religare Broking Ltd.


Market participants are now eagerly awaiting the release of domestic inflation data for May, which is anticipated to show a cooling down from the current level of 4.7%.


“Global cues will also play a significant role in shaping the market trend, with investors closely monitoring the outcomes of the FOMC meeting and the US inflation print.Indian settled almost flat for the second consecutive week amid mixed cues. The beginning was subdued but buying in select heavyweights in the middle tried to change the tone," said Vinod Nair, Head of Research at Geojit Financial services.

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