Week ahead: BSE Sensex may remain volatile, traders hopeful of more govt measures

Written by Reuters | Mumbai | Updated: Aug 30 2013, 21:40pm hrs
Market fallTraders remain wary as overseas investors have sold over $1 billion worth of shares in the 10 sessions through Thursday.
BSE Sensex and NSE Nifty may remain volatile in the short term as traders remain wary of foreign flows after overseas investors sold over $1 billion worth of shares in the 10 sessions through Thursday ahead of June quarter GDP data later in the day.

Prime Minister Manmohan Singh on Friday said April-June GDP growth would be flat.

A Reuters poll of 36 economists expected India's gross domestic product to have expanded 4.7 per cent year-on-year in the quarter to June, near decade lows on an annual basis and a tad under the 4.8 per cent growth in the previous three months.

The Indian rupee will also be on watch to see whether a reversal from a record low of 68.85 is sustainable. It continues to remain vulnerable to any talk of US tapering, while a worsening fiscal deficit could also weigh on it.

Traders are also hopeful of more market friendly measures like a hike in diesel price after the passage of the Land Legislation bill and the Food Security bill by the parliament was seen as populist.


Saturday: Trade Minister Anand Sharma will be present for an industry event in Mumbai at 1145 IST.

Monday: Automakers in India report monthly sales for August; Manufacturing PMI for August

Wednesday: Money supply data

Thursday: Bharti Airtel Ltd annual shareholders meeting