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Anxiety over Greek referendum, short-lived volatility expected

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By Rohit Vaid

Mumbai: Slight volatility is expected to hit the Indian equity markets in the coming week as investors will be jittery on account of the Greek referendum, upcoming first quarter results, the monsoon’s progression and key macro economic data.

However, market observers predicted to IANS that the volatility could be short-lived, as strong domestic fundamentals, economic reforms and a pick-up in government and private investments take place.

“Markets are expected to be slightly volatile in the beginning of the week due to the Greek referendum. For the short-term the Greek issue will be big enough for the market as a cue,” Devendra Nevgi, chief executive of ZyFin Advisors, told IANS.

“However, after the initial factoring-in of the situation, the domestic fundamentals such as policy initiatives and data points will be back into focus. These domestic factors are positive and will drive the markets to stability,” he added.

According to Dipen Shah, head of private client group research with Kotak Securities, the markets are hopeful that the outcome of the Greek referendum will not have any significant repercussions on the global economy – and especially India.

“The Indian economy is not linked to Greece in any major way. While there can be an impact on currency due to potential outflows, the strong forex reserves should help in reducing the impact to a great extent,” Shah said.

The Greek government has called for a referendum to let the people decide on the terms and conditions of another bailout.

Gaurav Jain, director of Hem Securities, elaborated to IANS that the positive bias in the Indian markets is expected to continue with Nifty having the potential to reach the 8,700-mark on the higher side.

“If things turn out to be negative, then the positive bias will help in mitigating the damage. Nifty in that scenario can be pulled down to the 8,000-mark on the lower side,” Jain said.

The markets will be looking ahead for key inflation and factory output data points like CPI (consumer price index), WPI (wholesale price index) and IIP (Index of Industrial Product) numbers.

“Traders will be eyeing the industrial production data for May scheduled to be announced on July 10. Needless to say, the progress of the monsoon will also remain in focus for the entire month,” Jayant Manglik, president for retail distribution with Religare Securities, told IANS.

The IIP data assumes significance as that for core sector industries released on June 30 showed the fastest pace of growth in the last six months ended May 2015 – at 4.4 percent year-on-year.

The eight core industries which comprise 38 percent of the total weight of items included in the Index of Industrial Production (IIP) stood at 178.6 as against 162.4 in April.

Analysts also point out that the countdown has begun for the earning season scheduled to start from July 21, which they believe holds the utmost importance in shaping the market’s direction.

“There is a hope that the first quarter (Q1) numbers due to be released soon will be better than the Q4 of 2014-15. Factors like lower inflation, easing of monetary policy and stable rupee are expected to be translated into better Q1 numbers,” Anand James, co-head, technical research desk, Geojit BNP Paribas, told IANS.

“There is also hope that the Q1 guidance is also going to be positive. However, in the worst case scenario, the markets seem to be ready for any negative surprises, especially in sector or stock-specific areas,” he added.

According to Anand, the market trajectory will also be influenced by the political climate leading up to parliament’s monsoon session later this month. The session is crucial because major bills such as on GST (goods and services tax) and land acquisition will be presented in parliament.

“The progress of monsoon will also be in the focus. We have noticed weakening of monsoon in the early part of this month. The continued weakness coupled with any adverse inflation numbers will give out negative signals for future lending rate cuts,” Anand added.

The barometer index of the Indian equities market, the 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), gained 281 points or 1.01 percent during the weekly trade ended July 3.

The index closed at 28,092.79 points from the previous weekly closing of 27,811.84 points on June 26.

(IANS)

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Hiring for Your Business? Get it Right First Time

If you can keep these things in mind, you should have no issues coming up with ideas that will help you to hire the right kinds of people for the business.

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Business
You have to keep in mind the fact that there are a lot of different types of people .Pixabay

There are so many things that you need to keep in mind these days if you are running a business, and one of the essential things is the fact that you need to get your workforce right. There are a lot of people out there who you will have the chance to hire for your business, and it is so important to make the right choice here. There are a lot of things to take into account when you are doing this.

Think about what you want to get from your employees, as well as what you can do to make sure you are focused on bringing things forward in a business sense. There are a lot of things you need to think about when it comes time to hire the right staff, and there are plenty of things to consider. This is how you can get right the process of hiring, and make sure you choose the right people.

Vietnam Office, business
Small businesses take advantage of co-working spaces like this one, in Ho Chi Minh City, VOA
Interview Them Yourself

One of the best ways of getting this right is making sure you are focused on conducting the interview yourself. This is one of the best ways of getting a feel for the person you are interviewing and making a judgement about what you think they are like. There are so many things that might play a role in your decision-making, and you should consider what it takes to get this right immediately.

Background Checks

Think about carrying out a background check on prospective candidates before you actually commit to hiring. Of course, a more professional and in-depth one will be carried out once they accept the job, but you can conduct your own before even offering them the role in the first place. Carrying out an online people search can be an eye-opener when it comes to improving the way you conduct yourself as a business, and making the right choice for the future.

business
There are a lot of issues to keep in mind when you try to make a decision about who suits the business. Pixabay
Look at Their Qualifications

When hiring a person, it is important to make sure you keep an eye on their qualifications and suitability for the job at hand. There are so many different ideas and options that play a role in the employment process, but it’s clear that experience and qualifications play one of the biggest roles. So, you need to make sure you are looking at those people with the right qualifications.  

What is Their Personality Like?

Also consider what their personality is like and what you can do to ensure you are hiring someone who is going to fit. There are a lot of issues to keep in mind when you try to make a decision about who suits the business. This is why you have to make sure you keep this in mind so that you can hire the right sort of person for the task at hand.

Business
Think about what you want to get from your employees. Pixabay

If you can keep these things in mind, you should have no issues coming up with ideas that will help you to hire the right kinds of people for the business. You have to keep in mind the fact that there are a lot of different types of people, and the better you can do this, the better choices you will make.