Indian
equity markets registered modest gains in the week ended Friday, 13
May 2016 buoyed by the passage of key legislation viz. the Insolvency
and Bankruptcy Code, 2016 by the government in the Parliament which
is expected to help creditors recover bad debt faster. The market
gained in three out of five trading sessions. The Nifty rose 81.45
points or 1.05% to settle at 7,814.90.
On the macro front, the data
on Thursday, 12 May 2016 showed acceleration in consumer price
inflation in April 2016. Inflation based on consumer price index
(CPI) surged to 5.39% in April 2016 from six months low of 4.8%
recorded in March 2016. Next batch of Q4 results of India Inc.,
macroeconomic data, trend in global markets, investment by foreign
portfolio investors (FPIs) and domestic institutional investors
(DIIs), the movement o
f rupee against the dollar and crude oil price
movement will dictate market trend in the near term.
Investmnet
Free Calls
Buy PFC
future above 176.5 targets 179, 181.5, 184 Stop Loss 171.5