Weekly fundamental speaks DALAL STREET face
INDIAN BENCHMARK edged higher in the week ended Friday, September 11, 2015 on bargain hunting. High volatility was witnessed throughout the week. The barometer index, the S&P BSE Sensex regained the psychological 25,000 mark after diving below that level during the week. The INDIAN BENCHMARKS Sensex rose 408.31 points or 1.62% to settle at 25,610.21. The 50-unit CNX Nifty gained 134.25 points or 1.75% to settle at 7,789.30.
GLOBAL MARKET chase ASIAN STOCKS rose thanks to gains on Wall Street, while the dollar steadied after facing pressure from a rallying yuan and U.S. data that offered no clarity on whether the Federal Reserve might raise interest rates next week.
U.S. STOCKS index futures poised for a lower opening at the Wall Street on Friday.
EUROPEAN STOCKS retreated as companies exposed to Brazil came under selling pressure after Standard & Poor's downgraded the country's credit rating to 'junk'.
Week ahead
In the coming week, corporate advance tax data, 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 the coming week. Among key macro economic data, the government is scheduled to unveil the consumer price index (CPI) data for the month of August 2015 after market hours on Monday, September 14, 2015. On global front, the policy decision by the US Federal Reserve will be closely watched. The Federal Open Market Committee (FOMC) holds a two-day policy meeting on 16-17 September 2015, to decide whether to raise the benchmark US interest rate for the first time since June of 2006. A hike in interest rate in the US is likely to drain liquidity from emerging markets like India and redirect it to developed economies. Happy week ahead!!!
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