Stock markets week ahead: BSE Sensex, NSE Nifty seen range-bound; Narendra Modi's Budget awaited

Reuters Posted online: Friday, Jun 27, 2014 at 0000 hrs
BSE Sensex and NSE Nifty are likely to trade range-bound as investors have turned cautious and will wait for clarity in the maiden Budget of the newly-elected Narendra Modi government, due on July 10.

The market will take a close look at the U.S. non-farm payroll data, due on July 3, which will direct the short-term trend in global equities.

Auto stocks will be in focus as companies will report monthly sales numbers in the coming week.

Reliance Industries Ltd will be watched as the Securities Appellate Tribunal will deliver its verdict on an insider trading case against the company.

Oil and gas stocks will be in focus, given the continuing conflict in Iraq, and investors will also eye news flow on reforms in the sector.

KEY EVENTS/FACTORS TO WATCH

Mon:

India's Infrastructure output data for May, India's Federal deficit data for the first two months of this fiscal, India external debt data

Tue:

French Foreign Minister Laurent Fabius visits India, India-Manufacturing PMI

Thurs:

India services PMI; European central bank's rate decision