The direction of the stock market will be decided by the quarterly results of companies, global trends, FII activities
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FPIs continue to invest in financial, auto, capital goods, realty and FMCG stocks. FPI buying has helped Sensex and Nifty to reach record highs.
The direction of the stock markets this week will be determined by the quarterly results of the companies, the global trend and the inflow of foreign funds. Analysts have expressed this opinion. At present the local stock markets are at their record level. Analysts say that investors will also keep an eye on the movement of the rupee and the price of Brent crude oil. Pravesh Gaur, Senior Technical Analyst, Swastika Investmart said, “Direction of global markets, rupee-dollar exchange rate and volatility in crude oil prices will have an impact on the overall market trend. Apart from domestic developments, these factors will also play an important role in guiding the market.
He said that the impact of institutional activities will also be seen on the market. Quarterly results of Central Bank of India, HDFC Bank, IndusInd Bank, Hindustan Unilever, Infosys, Ashok Leyland, DLF, JSW Steel, Hindustan Zinc and Reliance Industries are due this week. Arvinder Singh Nanda, Senior Vice President, Master Capital Services, said, “Global and domestic indicators, quarterly results of companies, foreign and domestic institutional investor sentiment, progress of monsoon and crude oil prices will be important for the market this week.” Last week, the 30-share BSE Sensex gained 780.45 points or 1.19 percent. On Friday, the Sensex closed at its new all-time high of 66,060.90. It had moved up to its new all-time high of 66,159.79 during the day’s trade. The National Stock Exchange’s Nifty also closed at its new all-time high of 19,564.50 points on Friday.
It went up to its fresh high of 19,595.35 during the day’s trade. On the global front, China will release economic growth figures for the April-June quarter on Monday. VK Vijayakumar, chief investment strategist, Geojit Financial Services, said, “Foreign portfolio investors (FPIs) remain buyers in the Indian market. FPIs continue to invest in financial, auto, capital goods, realty and FMCG stocks. FPI buying has helped Sensex and Nifty to reach record highs.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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