Market Outlook for February 01, 2016.

01/02/2016

  • Indian equity market is poised to open on a positive note today tracking firm Asian markets after the Bank of Japan (BOJ) unexpectedly decided to implement a negative interest rate policy.
  • Japan’s Nikkei extends gains on Monday up around 1.8% after the BOJ’s unexpected policy easing Friday that saw global equities claw back some gains. However, China’s Shanghai fell after the Country’s official factory activity eases to a three-year low point in January. The official Purchasing Managers’ Index (PMI) stood at 49.4 in January, compared to the previous month’s reading of 49.7.
  • Back home, the major trigger for the domestic equity market this week will be the outcome of policy meet of Reserve Bank of India scheduled on 2 February 2016 wherein the Central bank will take a view on interest rate.
  • Shares of automobile companies will remain in focus this week as the companies will start announcing January month sales volume data from today.
  • Among major corporate results scheduled today include Tech Mahindra and Adani Enterprises, scheduled to announce third quarter results.
  • Further, investors’ focus will be on Nikkei India Manufacturing Purchasing Managers’ Index (PMI) data for January 2016, which is due today.
  • On the stock specific front, IDFC Ltd has reported a fall of 58.2% in its consolidated net profit after taxes (PAT) at Rs 176.18 crore for the third quarter ended December 31, 2015.
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