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Markets May Trade In A Range Next Week
Indian markets are expected to trade in a range next week, even as markets exhibited volatility this week.
The initial few days, especially Monday saw a sharp sell-off after lingering worries over trade tensions. In fact, the market did attempt a recovery in the next few days, however, it did end the week lower.
It is advised that investors stay away from small caps, as these are going to be more choppy, as we head into elections next year. It is likely that investors attention would shifty to the safe large cap names, as these would drive the markets.
For the last few weeks, most investors seem to be taking shelter in names like HDFC Bank and Reliance Industries and that trend is likely to continue. The small cap index continued to take a pounding and several names which are a trader favorite like PC Jeweller, Rcom etc., saw sharp corrections.
Stocks like Avanti Feeds and Apex Frozen Foods, which cater to the shrimp sector, were among the few stocks that saw huge damage to their prices.
Shares in Manpasand Beverages, after hitting lower circuit filters for many days in a row, gained on Friday and Saturday, after the management said that it would declare results on June 27, 2018.
Shares in IDBI Bank gained ground after reports that LIC would take a major stake in the bank.
Indian markets are expected to trade in a range for the coming days, tracking global cues. All eyes would be in the F&O expiry later on Thursday, which is also the last day of expiry for the F&O segment.
Furher trade barriers imposed by US President Donald Trump and a sharp rally in crude oil, could pull indices down on Monday.
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