Market View: 11-15 JUN 2018

Filed in Market Update by on June 11, 2018

 

Week Market View: 11-15 JUN 2018
View Last week the NIFTY closed at 10767.65 registering a gain of 0.67% over previous week. The trailing couple of days in the last week was where the maximum action was seen and it was driven largely by weak global cues, a rise in crude prices, a rise in bond yield and the rupee depreciating against the dollar. After the recent up move, we would expect the markets to consolidate a bit from here on. In the short term the NIFTY would be driven by factors like movement of crude, progress of monsoon, IIP data for April and CPI/WPI numbers for MAY. Rupee Vs Dollar will also be closely watched. The markets would also react to the introduction of additional surveillance measures for companies that would undergo insolvency resolution under the Insolvency and Bankruptcy Code. On the global front there are lot of events to be watched for like the developments from US fed, European Central banks etc. There is a FOMC interest rate decision too that would be looked at this week. The G7 summit outcome will also be watched. So overall we would have a busy week. The underlying NIFTY trend is positive but choppiness and volatility is expected. Observe caution. All the best!

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