As expected, the Indian markets remained range-bound in the
week of July 4-8. Swapnil Suvarna feels that the market will be more volatile
this week.
Sensex and Nifty closed the week at
18,858 and 5,661 gaining 95 and 33 points.
The week started on a positive note but
lost some ground following Moody’s downgrade of Portugal’s bond rating to junk
and interest rate hike in Spain and Italy raising concerns on global economy. This
news was somewhat offset by the announcement of a decline in the weekly food
inflation numbers of 7.61% for the week ended 25th June. However, the
approval of the new Mining Bill had a negative impact on the Indian markets on
the end of the week.
Week
Ahead
Next week we expect the domestic
markets to witness much more volatility due to announcement of IIP numbers and
Q1 FY12 results from Tuesday 12 July 2011. Hence, we suggest your investors to
remain cautious and keep SIP ping to guard their wealth from
shrinking.
