Market Outlook for the coming week 24 JULY 2017

Market Outlook for the coming week!

In the coming week, June 2017 quarterly results, F&O expiry, progress of monsoon rains, global macroeconomic data, trend in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), the movement of rupee against the dollar and crude oil price movement will dictate trend on the bourses.

The market may remain volatile as traders roll over positions in the futures & options (F&O) segment from the near month July 2017 series to August 2017 series. The near month July 2017 derivatives contract expire on Thursday, 27 July 2017.

The progress of monsoon rains will be closely watched. The IMD said that for the country as a whole, cumulative rainfall during this year's monsoon upto 20 July has been 1% above the Long Period Average (LPA).

On the global front, Japan Manufacturing PMI data for July 2017 will be unveiled on Monday, 24 July 2017. US Manufacturing PMI data for July 2017 will also be unveiled on Monday, 24 July 2017.

The US Federal Reserve will announce its interest rate decision on Wednesday, 26 July 2017. The Federal Reserve had raised the target range for its federal funds rate by 25 basis points to 1% to 1.25% during its June 2017 meeting.

On Thursday, 27 July 2017 the first reading or the advance measure of economic growth in the June quarter will be issued in the US.

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