Third quarter results of companies, the direction of the stock market will be decided by the global trend
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Santosh Meena, head of research, Swastika Investmart, said, “This week will see fewer trading sessions due to Republic Day. In this case, the futures and options contracts for the month of January will be settled on Wednesday, January 25.
The direction of the stock markets will be mainly determined by the quarterly results of companies, global trends and foreign funds (FII) movements in this week of short trading sessions. Analysts have expressed this opinion. He added that due to the settlement of monthly derivative contracts, the broker path may also see volatility. Santosh Meena, head of research, Swastika Investmart, said, “This week will see fewer trading sessions due to Republic Day. In such a situation, the futures and options contracts for the month of January will be settled on January 25, i.e. Wednesday. However, any major movement in the global market can impact our markets as well.
FII selling has moderated in the last few days after aggressive selling in the first fortnight of this month. Institutional flows will be important for market direction. As the third quarter results season is underway, shares and sector specific activities can be seen. Talking about quarterly results, during the week Axis Bank, Maruti Suzuki India, Bajaj Auto, DLF, Tata Motors, Bajaj Finance and Vedanta’s earnings figures will come. Siddharth Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd. said, “The market is expected to remain in a tight range due to stock-specific activities around Q3 FY 2022-23 results and the upcoming Budget.”
Apart from this, investors will also keep an eye on the activities of foreign institutional investors (FIIs), the movement of rupee and Brent crude oil. Vinod Nair, head of research, Geojit Financial Services, said, “Although the third quarter results have started on a weak note, the recent results of IT and banking majors have been encouraging.” Going forward, the direction of the market will be decided by the third quarter results of the companies. ”Last week, the 30-share BSE Sensex gained 360.59 points or 0.59 percent.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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