Q2 earnings key for Sensex in holiday shortened week
20/10/2014 12:59
Sentiment at Dalal Street in the holiday shortened week would mainly be dictated by second quarter earnings from blue chips such as HDFC, Wipro, HDFC Bank, Cairn India, Punjab National Bank and Kotak Mahindra Bank.
Meanwhile results of the recently held assembly elections in which the BJP party emerged victorious and the government’s decision to deregulate diesel prices may bring some cheer.
The BJP emerged as the single largest party in Haryana as the Modi wave helped sweep the assembly polls, but it will need outside support to form the government in Maharashtra.
The decision to deregulate diesel prices over the weekend, a long overdue reform may help boost foreign investor sentiment. Diesel price deregulation means the scrapping of the diesel subsidy which will help stem the fiscal deficit and may lead to a reduction in interest rates by the RBI.
However, concerns over the global economy including fresh fears of a recession in Europe and the Ebola virus panic will curb gains in the Sensex.
Stock markets will be closed on Thursday due to the occasion of Diwali Laxmi Pujan and on Friday for Diwali Balipratipada.
However, stock exchanges will conduct a special trading session on Thursday on account of muhurat trading on Diwali.
20/10/2014 12:59
Sentiment at Dalal Street in the holiday shortened week would mainly be dictated by second quarter earnings from blue chips such as HDFC, Wipro, HDFC Bank, Cairn India, Punjab National Bank and Kotak Mahindra Bank.
Meanwhile results of the recently held assembly elections in which the BJP party emerged victorious and the government’s decision to deregulate diesel prices may bring some cheer.
The BJP emerged as the single largest party in Haryana as the Modi wave helped sweep the assembly polls, but it will need outside support to form the government in Maharashtra.
The decision to deregulate diesel prices over the weekend, a long overdue reform may help boost foreign investor sentiment. Diesel price deregulation means the scrapping of the diesel subsidy which will help stem the fiscal deficit and may lead to a reduction in interest rates by the RBI.
However, concerns over the global economy including fresh fears of a recession in Europe and the Ebola virus panic will curb gains in the Sensex.
Stock markets will be closed on Thursday due to the occasion of Diwali Laxmi Pujan and on Friday for Diwali Balipratipada.
However, stock exchanges will conduct a special trading session on Thursday on account of muhurat trading on Diwali.
