Outlook: Indian shares expected to remain weak; earnings estimates in focus

Sep 27 2013, 22:15 IST
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Reuters. Reuters.
SummaryIndia will release the June quarter current account, balance of payments data on Monday.

* Indian shares are expected to remain weak in the short term due to the lack of any positive triggers amid a weak macro backdrop, dealers said. * Traders are expected to build consensus on a potential slowdown in corporate earnings for the September quarter in the coming week, ahead of Infosys Ltd kicking off the results season on Oct. 12. * India will release the June quarter current account, balance of payments data on Monday, which will be watched for signs of whether the government will manage to keep its full year fiscal deficit within its estimated $70 billion. * The government will also release fiscal deficit data for April to August, with 62.8 percent of the full-year budgeted deficit already reached in the first four months. KEY FACTORS/EVENTS TO WATCH Mon: India infrastructure data for August (tentative) Federal deficit data for April-August (1130GMT) India June-quarter balance of payments (1230GMT) Tue: India September Manufacturing PMI (0600GMT) Money supply data (1230GMT) Wed: Markets closed for national holiday Fri: September Services PMI (0600GMT) Forex reserves, bank lending data (1130GMT)

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