Market Outlook: Global trends and quarterly results of companies will decide the direction of the stock market this week, investors will keep an eye on these

Market outlook this week:Quarterly results of companies, business activities of foreign investors and global trends will determine the direction of the stock market this week. Analysts have expressed this opinion. They say that this week investors will keep an eye on the price of Brent crude oil at the global level and the fluctuations of rupee against the dollar. Monthly derivative contracts are settled on Thursday. This can also cause fluctuations in the market.

The season of Lok Sabha elections and quarterly results in the country is now coming to an end, so this week the stock markets will see some strength. However, along with this, some fluctuations can also be seen in the market. Experts believe that the business activities of foreign investors will also be important from the market point of view. Last week, the market witnessed a record rise.

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What do experts say

Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Ltd. said, “The fourth quarter results are now coming to an end. This week many companies including Tata Steel will announce their quarterly results. Better results of companies can help in maintaining the momentum of the market.” He said that the results of the Lok Sabha elections will be announced on June 4. The election results can strengthen the flow of foreign institutional investors (FIIs). He said that on the global front, the upcoming economic data of Japan and America as well as the movement in the global currency market will also be important from the market point of view.

Ajit Mishra, Senior Vice President-Research, Religare Broking Ltd, said, “This week the market will be looking at the general elections, global trends and quarterly results of companies.” During the week, LIC, NMDC, IRCTC and MMTC will announce their March quarter results.

Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd, said, “Overall, we expect the market to gradually recover. The election and quarterly results season is about to end, so the market will see some volatility.” The March quarter GDP growth data will be released on Friday.

Last week, the 30-share BSE Sensex gained 1,404.45 points or 1.89 per cent. The National Stock Exchange’s Nifty rose 455.1 points or 2 per cent. The Sensex reached an all-time high of 75,636.50 points on Friday. The Nifty crossed the 23,000 mark for the first time on the same day. During the day’s trading, it reached an all-time high of 23,026.40.