Markets Next Week; Earnings Will Be Key

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It was a volatile session for the markets this week, though the Sensex managed to end the week above the 28,000 points mark. Many individual stocks reacted to their results with Reliance Industries posting a drop on Friday, despite a good set of results. HCL Tech surprised the street with a good set of numbers and the stock ended the day higher on Friday.

Markets Next Week; Earnings Will Be Key
Another feature of this week was that domestic institutions were buyers, while FIIs sold heavily in the market. Going forward the trend of FIIs selling and domestic institutions buying may continue into the next week, as we head closer to the decision by the US Federal Reserve on interest rates.

Many big and smaller sized companies will declare their results next week, including the likes of MindTree and Adani Enterprises.

Wipro will also react to its results after another quarter, which was not very bad. However, the dollar revenue guidance remained a matter of concern.

Global markets also ended the week steady amidst some volatility ahead of the European Central Bank meeting, in which rates were left unchanged and no decision was taken on quantitative easing.

In other asset classes, gold also went nowhere during the week and spot gold for 22 grams hovered near the Rs 29,000 mark. This has been the case for gold, in the last two years. But, the price has gained almost 20 per cent since the start of Diwali.

Read more about: sensex, nifty
Story first published: Saturday, October 22, 2016, 9:20 [IST]
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