Market outlook this week: The direction of the stock markets this week will be decided by domestic inflation data, quarterly results of companies and global trends. Analysts have expressed this opinion. Experts believe that investors will also keep an eye on the news related to the general elections. Apart from this, activities of foreign investors, global crude oil prices and fluctuations of rupee against dollar will also decide the direction of the market. Last week, the 30-share BSE Sensex lost 1,213.68 points or 1.64 percent. At the same time, Nifty of National Stock Exchange fell by 420.65 points or 1.87 percent.
Investors will keep an eye on them
This week, investors will keep an eye on the consumer price index based inflation rate of America and India, Japan’s GDP data and the statement of the Federal Reserve Chief. Besides, the market will also take direction from the quarterly results of the companies. During the week, quarterly results of big companies like DLF, Zomato, Bharti Airtel and Mahindra & Mahindra will come. Globally, everyone’s attention will be on America’s Producer Price Index (PPI) and Consumer Price Index data. Data on China’s industrial production and Japan’s gross domestic product (GDP) growth rate are to be released this week.
Also read: Best Seller Hatchback: Not Swift, Baleno, Alto, Tiago, this is the best selling hatchback car in the country.
What do experts say
Swastika Investmart Ltd. Santosh Meena, head of research, said, “A lot of economic data is to come on both domestic and global fronts.” On the domestic front, along with consumer price index based inflation, wholesale inflation data will be released. He said that apart from this, everyone will also keep an eye on the address of Federal Reserve Chief Jerome Powell.
Vinod Nair, head of research, Geojit Financial Services, said that due to uncertainties due to elections, the current trend in the domestic market is likely to continue.
Arvinder Singh Nanda, Senior Vice President, Master Capital Services, said, “The market outlook will be determined by key global and domestic economic data. Apart from India’s retail inflation data, America’s producer price index data, Japan’s GDP data and the statement of the Federal Reserve chief will be in focus.
Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services Limited, said, “Overall, we estimate that the market direction will be determined by the fourth quarter results of the companies, apart from global factors and election related news.
