|
|
|
|
LIC listing, wholesale inflation will give cues to mkt next week: Samco Securities
|
|
|
|
| Top Stories |
 |
|
|
|
SME Times News Bureau | 13 May, 2022
As
the result season approaches its climax, Dalal Street will move in sync
with global news flow as India's WPI data will be released and the
much-anticipated LIC will be listed on the exchanges next week, said
brokerage house Samco Securities.
The Commerce and Industry Ministry is scheduled to release wholesale inflation data for April on Tuesday.
In
absence of any positive catalysts, the benchmark equity indices are
expected to remain under pressure as selling is emerging on every
bounce, said Yesha Shah, Head of Equity Research, Samco Securities.
"Investors
are therefore urged to remain on the sidelines since it is preferable
to wait out the storm than to go bottom fishing during such turbulent
phases," Shah said.
Both the Indian and major global indices are
now at oversold levels, hence an immediate rebound in the Nifty and
BankNifty is highly possible.
"Based on how the Nifty opens next
week, highly aggressive traders may initiate long trades with a strict
stop loss right below 15,700."
Sensex closed at 52,794 points,
down 137 points or 0.3 per cent, whereas Nifty closed at 15,782 points,
down 26 points or 0.2 per cent on Friday, declining 2.7 per cent and 2.3
per cent during the entire week, respectively.
Notably, equity
investors were concerned about the persistent high inflation globally
and tightening monetary policy stance by several central banks. Besides,
a relative weakness in rupee also dented market sentiment.
India's
retail inflation accelerated to 7.79 per cent in April due to high fuel
and food costs. The inflation print remained above the tolerance limit
of the central bank RBI for a fourth month in a row.
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
₹95.3
|
₹93.6 |
UK Pound
|
₹127.7
|
₹123.7 |
Euro
|
₹110.65
|
₹106.9 |
| Japanese
Yen |
₹59.75 |
₹57.9 |
| As on 24 Jun, 2026 |
|
|
| Daily Poll |
 |
 |
| What’s your biggest challenge with the 45-day payment rule? |
|
|
|
|
|
| Commented Stories |
|
|
|
|
|
|
| |
|
