Weekly Newsletter - Jan 15 2010

The key indices didn't move much during the week as concerns about soaring inflation offset stronger than expected IIP data and positive announcements on PSU disinvestment. Even stellar results from IT giant Infosys and other leading lights of India Inc. failed to cheer up the bulls. At the same time, select Small-Cap and Mid-Cap stocks continued to outperform the frontline counters.

Next week again things may remain volatile even as the earnings announcements accelerate and investors weigh their options. The Nifty might conquer the 5300 milestone but will face resistance in its journey to 5400 and beyond. On the way down, it will find support at 5200 and 5100. The road ahead will not be smooth and one will have to deal with several road blocks. So, stay on guard and wait for more clarity before jumping the gun.

The US markets will be shut on Monday in observance of the Martin Luther King Jr. holiday. Among the key US data points to keep an eye on will be the reports on Housing Starts and Building Permits. China will come out with its latest GDP data, along with reports on CPI and industrial production. A slew of economic reports are also due from the UK and European markets. As far as India is concerned, no major economic report is scheduled, except for the weekly inflation in Food and Fuel baskets.

Key Results Next Week: 3i Infotech, Asian Paints, BASF India, Bharti Airtel, BHEL, Biocon, Container Corporation, Dr. Reddy's, Godrej Consumer, Gail India, GTL Infra, Grasim, HDFC, HDIL, HT Media, HCC, Hindustan Zinc, ICRA, ITC, ICICI Bank, Idea Cellular, Indiabulls Real Estate, Infotech Enterprises, Jaiprakash Associates, JSW Steel, Jubilant Organosys, Kotak Mahindra Bank, KPIT Cummins, L&T, Mindtree, MRPL, Mahindra Holidays, M&M, Mahindra Lifespaces, Maruti Suzuki, Neyveli Lignite, ONGC, Punj Lloyd, Piramal Healthcare, Philips Carbon Black, Praj Industries, Petronet LNG, Polaris Software, Reliance Industries, SRF, Sesa Goa, Shriram Transport, Sterlite Technologies, Shree Cements, Sun TV, Tata Power, Tech Mahindra, TVS Motor, United Spirits, Wipro, Welspun Gujarat, Welspun India, Yes Bank and Zee Entertainment.