Monday, December 28, 2015

Indian equity market to reiterate its jolly mood in last week of 2015

After closing on a positive note for a second consecutive week aided by rising global markets, Indian equity markets are expected to continue the relaxing trend in the coming week if the same mood continues overseas.

Volumes are likely to be low due to Christmas holidays and the year-end. However, volatility will be high on account of expiry of derivative contracts.

"Volumes will get pretty light at this time of the year as most institutional investors are off on annual vacation. Rupee-dollar movement and international crude oil price movement will dictate trend on the bourses in the week ahead," said Vijay Singhania, Founder-Director, Trade Smart Online, a leading discount brokerage firm.

Technically, a pullback towards 7,950-8,000 is possible in the near term, pointed out IIFL.

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