Sensex to open in narrow range
Volatility could set in later as November series equity derivatives expire this week.
Volatility could set in later as November series equity derivatives expire this week. It’s a truncated week with the stock market closed on Wednesday on account of Guru Nanank Jayanti.
The market has held its breath in anticipation over the course of winter parliamentary session 2012. After an infructuous beginning which saw adjournment for 2 days straight, Parliament is set for a third session on today. Market closed flat with a negative bias on Friday. The Nifty failed to cross the resistance of 50 DMA which is placed at 5645 levels.
On the global front US market clocked gains as technology stocks were picked by investors. Progress on release of aid to debt-saddled Greece will be keenly watched. The discussion on the ‘Fiscal Cliff’ this week will be another major global cue for markets. The retail sales on Black Friday were up by 9% from last year which also adds to the positives. US economic reports on the housing market, manufacturing and consumer data are due this week.
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India Infoline Research Team / 10:47, Aug 24, 2015
In spite of massive improvement in CV demand, standalone revenues for Banco Products Ltd registered muted performance with sales at Rs. 113cr in Q1 FY16.