Weekly Market Quote – Pre-Budget rally, Q3FY17 earnings and BSE IPO to drive the markets

Weekly Market Quote - Pre-Budget rally, Q3FY17 earnings and BSE IPO to drive the markets

This article is written by Vijay Singhania – Founder – Director TradeSmartOnline which was published in Equity Bulls.

Expectation from the forthcoming Union Budget, Q3FY17 earnings and forthcoming public issue of BSE will drive the markets in the coming week.

The pre-budget market rally has started and investors have started building positions on likely announcements from the budget to be presented on February 1.

Q3FY17 earnings from blue-chip companies is set to be the next big trigger for the markets. Reliance Industries and LIC Housing Finance will announce October – December 2016 quarterly results on Monday. While Axis Bank and Yes Bank will announce December 2016 quarterly results on Thursday, Adani Power and RBL Bank will announce quarterly results on Friday.

Meanwhile, Asia’s oldest bourse BSE will launch its much-awaited Rs 1,500 crore initial public offering (IPO) on January 23. The public offer of BSE will see sale of 1.54 crore shares by the existing shareholders through the offer for sale (OFS) route. This works out to close to 30 percent of the total holding.

On macro front, the government will announce monthly inflation data based on wholesale price index (WPI) for December 2016 on Monday. Inflation based on WPI eased for the third straight month to 3.2% in November 2016 from 3.4% in October 2016.

To know more please read the original article here.

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