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=======================================================================Indian Markets Outlook for the week – 23.May.2016 to 27.May.2016 (Seen stock specific next week; earnings in focus)
Bank Stocks Outlook for the week – 23 to 27.05.2016 (Mixed next week; PSU banks seen under pressure)
Telecom Stocks Outlook for the week – 23 to 27.05.2016 (Bharti Airtel, Idea may keep trading in red)
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Indian Markets Outlook for the week – 23.May.2016 to 27.May.2016 (Seen stock specific next week; earnings in focus)
Action in domestic equities will be stock-specific next week, as investors will focus on corporate earnings, 13 of which will be of Nifty 50 constituents. The underlying bias for the market is seen weak after benchmark indices declined nearly 1% this week. Yesterday, the Nifty 50 and S&P BSE Sensex ended down 0.4% each at 7749.70 points and 25301.90, respectively. Equities will also be volatile next week on account of the expiry of May derivatives contracts next week. Nifty (50) is trading on the edge and volatility will further inch higher due to derivative expiry in the coming week.
In addition, cues from global front and movement in crude oil prices will continue to influence our markets. Among sectors, banks' and other rate sensitive stocks may be under next week due to a weak rupee. Yesterday, the currency ended at its lowest level since Mar 2 at 67.44 per dollar. The weakness in the rupee, though, may benefit export-oriented sectors like information technology and pharmaceuticals. However, pharmaceutical giant Lupin may continue its decline next week. Yesterday, the stock slumped over 9% to 1,504.80 rupees on concerns over higher costs on Gavis Pharmaceuticals' integration and regulatory issues at the Goa unit.
EARNINGS WATCH
Among the 13 Nifty 50 companies that will report their March quarter earnings next week, State Bank of India will be particularly in focus for its asset quality. The stock hit a one-month low today as investors became jittery about the lender's asset quality after its state-owned peers reported a sharp rise in provisions and higher non-performing loans. India's largest lender will report its Jan-Mar earnings on May 27. Investors will also await Larsen & Toubro's and Tata Steel's earnings on Wednesday. On Monday, Tata Power will report its earnings. The integrated power company is expected to report a 95.96% year-on-year jump in consolidated net profit to 3.12 bln rupees for Jan- Mar. Other Nifty 50 companies that will report their earnings next week are Cipla, Tech Mahindra, Bajaj Auto, Bosch, GAIL India, Bharat Petroleum Corp Ltd, Oil & Natural Gas Corp, Power Grid Corp of India and Bharat Heavy Electricals Ltd.
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