Markets to remain buoyant this week July 02, 2018

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Viewpoint: Markets to remain buoyant this week

July 02, 2018

After surging to a four year high mark on Friday, crude oil is under slight pressure this morning after Saudi Arabia said that it will use its excess capacity prudently to cool the Oil prices.

This week the markets will have their eyes on the release of minutes from the Fed’s most recent meeting on Thursday, followed by the June jobs report the next day.  The manufacturing and services sectors PMI will also be released, while a round of US tariffs on Chinese goods will kick in on July 7. Trading in global markets, however, could also be somewhat quiet this week, as HONG KONG Market is closed today, while US will be closed on Wednesday in celebration of Independence Day.

Back home, Fine Organic, RITES IPOs are going to list on bourses today. Automobile numbers released over the weekend shows health growth over the low base last year.

Long build up in the index futures, healthy rollover to the July series and institutional buying in the derivative segments on Friday Indicates that markets will remain buoyant in the coming week.

 

Source : HDFC Securities

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