Markets May Rally Further Next Week; Greece Election Looms

The Sensex and the Nifty had a super rally this week thanks to the RBI's rate cut on Thursday. Banking stocks though initially had a good rally gave up some gains later on Friday.

Nevertheless, they still had a rally especially stocks like State Bank of India and Punjab National Bank. The results from some of the banks were also encouraging particularly Axis Bank, IndusInd Bank and Yes Bank. Reliance Industries also reported results largely in line with expectations of a drop in net profits.

Earnings from software companies was largely a mixed bag with TCS marginally below estimates, while Wipro delivered a good set of numbers.

The earnings season will be in full steam with the likes of Hindustan Unilever and HDFC slated to announce their results next week.
Markets are expected to be volatile next week ahead of the Greece election on Sunday. All eyes are on the outcome and any major victory for the anti-bailout parties may sour sentiments across the globe.

Movement of crude oil would also determine market movement across the globe. The US markets saw some selling pressure this week, though analysts feel there could be a recovery in these markets next week.

All in all it's likely to be a choppy session for the markets going ahead. The direction is largely positive ad you would do well to stay on the long side.

GoodReturns.in

Story first published: Saturday, January 17, 2015, 7:23 [IST]

See More On: sensex

Other articles published on Jan 17, 2015