Market may remain volatile ahead of near month F&O expiry
Progress of monsoon rains, trend in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), the movement of rupee against the dollar and crude oil price movement will dictate market trend in the near term.
The market may remain volatile as traders roll over positions in the futures & options (F&O) segment from the near month August 2016 series to September 2016 series. The near month August 2016 derivatives contracts expire on Thursday, 25 August 2016.
Investors will continue to track the progress of monsoon rains. The India Meteorological Department (IMD) in its weekly monsoon update issued on 18 August 2016 said that for the country as a whole, cumulative rainfall during this year's monsoon season so far from 1 June to 17 August was normal with 0% departure from the long period average (LPA).
Among key earnings slated for the week ahead, NTPC and HPCL are scheduled to announce Q1 June 2016 results on Monday, 22 August 2016. Aurobindo Pharma and Tata Power Company are scheduled to announce Q1 June 2016 earnings on Tuesday, 23 August 2016. Tata Motors will announce its Q1 result on Friday, 26 August 2016.
On the global front, Markit will release US manufacturing PMI report for August 2016 on Tuesday, 23 August 2016. US Fed Chair Janet Yellen speaks at the Kansas City Fed's annual Monetary Policy Symposium in Jackson Hole, Wyoming on Friday, 26 August 2016. Minutes from the Federal Open Market Committee's July meeting showed officials were split on whether an increase in interest rate was needed soon. On the same day, the Bureau of Economic Analysis will release the second estimate of US Gross Domestic Product (GDP) for the second quarter.
The market may remain volatile as traders roll over positions in the futures & options (F&O) segment from the near month August 2016 series to September 2016 series. The near month August 2016 derivatives contracts expire on Thursday, 25 August 2016.
Investors will continue to track the progress of monsoon rains. The India Meteorological Department (IMD) in its weekly monsoon update issued on 18 August 2016 said that for the country as a whole, cumulative rainfall during this year's monsoon season so far from 1 June to 17 August was normal with 0% departure from the long period average (LPA).
Among key earnings slated for the week ahead, NTPC and HPCL are scheduled to announce Q1 June 2016 results on Monday, 22 August 2016. Aurobindo Pharma and Tata Power Company are scheduled to announce Q1 June 2016 earnings on Tuesday, 23 August 2016. Tata Motors will announce its Q1 result on Friday, 26 August 2016.
On the global front, Markit will release US manufacturing PMI report for August 2016 on Tuesday, 23 August 2016. US Fed Chair Janet Yellen speaks at the Kansas City Fed's annual Monetary Policy Symposium in Jackson Hole, Wyoming on Friday, 26 August 2016. Minutes from the Federal Open Market Committee's July meeting showed officials were split on whether an increase in interest rate was needed soon. On the same day, the Bureau of Economic Analysis will release the second estimate of US Gross Domestic Product (GDP) for the second quarter.
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