INDIAN BENCHMARK ended higher in the week by 3%. The continuous buying in heavy weights like ITC, HDFC and Reliance Industries supported gains. Sentiment was also boosted after Greece's parliament on July 16, 2015, approved austerity measures to secure a bail out for the country and potentially avoid its exit from the euro zone. The barometer index,the S&P BSE Sensex settled above the psychological 28,000 mark during the week .
The INDIAN BENCHMARKS
Sensex gained 801.91 points or 2.89% to settle at 28,463.31,CNX Nifty gained 249.30 points or 2.98% to settle at 8,609.85, its highest closing level since16 April 2015.
GLOBAL MARKET chase
ASIAN STOCKS nudged up helped by a rise in Chinese shares, while the dollar extended gains versus the euro and yen as economic indicators bolstered expectations for a U.S. rate hike by year-end.
U.S. STOCKS index futures poised for a lower opening at the Wall Street on Friday.
EUROPEAN STOCKS slipped with a recent Greece-driven relief rally showing signs off ading as investor focus shifts to the corporate earnings season and the timing of a U.S. interest rate hike .
Weekahead
In the coming week, corporate earnings for the June 2015 quarter, developments in monsoon session of Parliament, the progress of monsoon rains, 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 also dictate trend on the bourses in the near term.The focus will be on guidance from the company managements on outlook for the remaining part of the year and for the next year. The first quarter earnings season of India Inc., which started in the second week of July 2015, will end in the second week of August 2015 .
In global news, the Bank of England (BOE) on Wednesday, July 22, 2015 publishes minutes of its Monetary Policy Committee's July 16, 2015 meeting, when the key interest rate was left on hold at a record-low 0.5% .
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