Macroeconomic data will throw the shape in economic activities going on : Amrapali Aadya

Mr. Abnish Kumar Sudhanshu, Director & Research Head, Amrapali Aadya Trading & Investments:

Week began on the buyout note after receiving the positivity from the higher PMI data of 52.2 for the month of May along with early arrival of monsoon in certain regions. Moving further, as the RBI monetary policy was approaching; market went under the grip of numerousness. Surprisingly, RBI decided to cut statutory liquidity ratio by 50 basis points to 20 per cent along with keeping the rates unchanged at 6.25. This has cheered the market, sending the Bank nifty to touch all time high. Once again market went under the worry ahead of UK prime minister polls. However, it left all the worry again on Friday to cheer the market to touch Nifty higher. Overall, the market ended with the flattish note.

Next week is likely to remain very crucial as several macroeconomic data are scheduled. On Monday, most important macroeconomic data i.e. IIP, manufacturing & Inflation data's are expected, which will throw the shape in economic activities going on. Further, progress in monsoon is also likely to provide direction to the surging indices. Going ahead banking stocks are likely to remain positive as RBI has cut the SLR, which will certainly infuse more liquidity into the banking system, ultimately increasing the credit off take. GST rollout, expected to start from the July 1st is likely to provide clues to the indices. Overall, we believe indices to remain traded on the positive note keeping the focus on Banking, non-banking finance companies, reality and fertilizer stocks.

Source : Equity Bulls

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