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“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you. For everyone who asks receives; the one who seeks finds; and to the one who knocks, the door will be opened. Matthew 7:7-8

18 Oct 2016

STOCK MARKET-Market view for the week(18/10)

Coming after vacation days, investors were relaxed as far as trading was concerned. Low volume has been witnessed by the market for few days. With some geopolitical uncertainties FIIs were on net seller side. The release of Chinese data on growth in quarterly Gross Domestic Product and inflation numbers will define how emerging markets including India will perform this week. Another important event, Janet Yellen's Friday comments and how they impact the US markets after they open today, will also define how market performs. December rate hike eventually digging pillars. FIIs are pulling out despite a good earnings season and optimistic macro numbers. Falling short of 9,000, Nifty says around USD 0.5 billion worth of selling by FIIs. 

Presidential elections in the US is a key issue and is the number one concern for equity markets across the globe. US elections and a possible US Federal Reserve rate hike are two issues that have also concerned Foreign Institutional Investors FIIs, leading to sell-offs in India. Although, Donald Trump's economic policies, which include higher infrastructure spending, would lead to higher US growth rate, the market does not like his policies on trade barriers and building walls on borders and other such rhetoric. The Indian market is big and liquid, there is no reason for money to move out of India as Indian market can do well over the next 12 months.

Stocks to watch: Minda Corporation Ltd is on the upside while TCS is on the downside. 

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