Stock market movement will be decided by global trend, crude oil prices, second quarter results
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New Delhi. The direction of local stock markets this week will be decided by the quarterly results of companies, global trend and fluctuations in crude oil prices. Analysts have expressed this opinion. Analysts said investors will also keep an eye on the activities in West Asia and the attitude of foreign investors amid the Hamas-Israel conflict. There will be a holiday in the market on Tuesday on ‘Dussehra’.
Swastika Investmart Ltd. “Global markets remain weak due to rising US bond yields, global economic uncertainty and geopolitical tensions,” said Pravesh Gaur, senior technical analyst at ICICI Bank. These factors need to be closely monitored as they can impact market sentiment.”
He said that in the quarterly results session, market participants will keep an eye on the movement of rupee against the dollar and crude oil prices as well as the investment trend of foreign institutional investors (FIIs) and domestic institutional investors (DIIs). He said the market may also remain volatile due to the settlement of monthly derivatives contracts on Thursday.
“This is a week of fewer trading sessions,” said Ajit Mishra, senior vice president, technical research, Religare Broking. There may be a lot of volatility in the market due to the quarterly results season and the settlement of derivative contracts in the month of October. Arvinder Singh Nanda, Senior Vice President, Master Capital Services said, “The market will take further direction from the Israel-Palestine conflict. . Apart from this, everyone’s eyes will also be on the quarterly results of some big companies. This week, Britain’s Services PMI, America’s Manufacturing and Services PMI, America’s Gross Domestic Product (GDP), Unemployment Claims data are to come which will be important for the market.
Shrikant Chauhan, Head of Equity Research (Retail), Kotak Securities Ltd, said markets across the world, including India, will react to geopolitical challenges, fluctuations in crude oil prices and bond yields. Apart from this, share specific activities will also be seen due to quarterly results.” Motilal Oswal Financial Services Ltd. Siddharth Khemka, head of retail research, said, “We expect quarterly results to be important in a week with less trading session. On the global front, the European Central Bank (UCB) will announce its decision on interest rates this week.
He told that the September quarter results of Axis Bank, Tech Mahindra, Maruti Suzuki and Bajaj Finserv will come this week. Apart from this, results of Canara Bank, Asian Paints, PNB, BPCL and Reliance Industries will also come during the week. Last week, the 30-share BSE Sensex lost 885.12 points or 1.33 percent. Whereas the National Stock Exchange’s Nifty fell by 208.4 points or 1.05 percent.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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