InvestorQ : What is your stock market outlook for Friday, August 19th 2022 and do you see weekend pressure on the markets?
Niti Shenoi made post

What is your stock market outlook for Friday, August 19th 2022 and do you see weekend pressure on the markets?

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diksha shah answered.
2 months ago
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On Thursday, the markets were in the red through most of the day but bounced back sharply in the second half. The rally was led by Kotak Bank and Larsen & Toubro after the markets reacted positively to the minutes of the US Fed. The Fed had stayed hawkish but indicated that the pace of rate hikes would gradually reduce.

The breath of the market as indicated by the advance decline ratio closed almost flat at 24:25 after being in the negative through the day. There could be some cautious trading on Friday, being the last trading day of this truncated week. This has been a truncated week and traders may want to carry light positions for the weekend.

Foreign investors net sold equities worth Rs.1,706 crore as domestic funds and LIC bought stocks worth Rs.471 crore. This can be misleading as it includes the Sona BLW block selling by Blackstone. US markets were flat to positive while the European markets were in the green. SGX Nifty is trading about 22 bps lower in early trades.

The market now just about 5% away from the peak levels and the markets are likely to be cautious ahead of the RBI MPC minutes to be announced later today. Traders can expect a flat to weak close in the Nifty on Friday as they stay light on their positions. The next big data point will be the June quarter GDP which will be announced on 31st August.

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