Markets may remain volatile next week; auto, cement stocks to be in focus

Markets may remain volatile next week; auto, cement stocks to be in focus
Clean Media Correspondent

NEW DELHI, Oct 01 (CMC) The Indian market will remain volatile in a truncated week as the investors may continue to book profits after a recent run up in share prices, Sharekhan said in a report.

“Automobile and cement stocks are likely to be in focus as companies from these two sectors will start unveiling monthly sales volume data for September 2012 from Monday (October 01, 2012),” the report noted.

Markets wrapped up the week ended September 28, 2012 in green for the fourth straight week with the BSE Sensex rising 0.05 per cent and the NSE Nifty up by 0.21 per cent. The BSE Mid-Cap index rose 2.72 per cent and the BSE Small Cap index rose 3.06 per cent. Both these indices outperformed the Sensex.

Volatility ruled the markets this week on account of global woes both in local and overseas indices. The markets registered gains in three out of the five trading sessions.

The stock market will remain closed on Tuesday (October 02, 2012) on account of Mahatma Gandhi Jayanti.

For the coming week, shares of aviation firms will also be in focus as state-run oil marketing companies (PSU OMCs) will undertake periodical review prices of jet fuel or aviation turbine fuel (ATF) on Monday (October 01, 2012).

On Thursday (October 04, 2012), Market Economics will release HSBC IndiaBSE 0.24 % Services PMI and HSBC India Composite PMI for September 2012. The HSBC India Services PMI had risen to a six-month high of 55 in August 2012 from 54.2 in July 2012.

From the global front, the Hong Kong stock market is closed on Monday (October 01, 2012) and Tuesday (October 02, 2012), while mainland Chinese markets are shut for the whole of next week for the Golden Holiday week running from September 30 to October 07, 2012.

FII/MF activity The foreign institutional investors (FIIs) have been the net buyers of Indian stocks to the tune of Rs6207.9 crore till September 25, 2012. The domestic investors sold Indian shares worth Rs258.4 crore on September 25, 2012.

Disclaimer: The analyst may have a position in the scrips mentioned above, and the views given are the personal views of the analyst.