Market Outlook this week: The movement of the Indian stock market this week will be decided by global trends, activities of foreign investors and quarterly results of companies. Experts have expressed this opinion. Quarterly results season is going to start with Tata Consultancy Services (TCS) from Thursday this week. Experts believe that macroeconomic data and the trend of rupee-dollar will also be important for the market.
Expert opinion
Senior Research Analyst at Swastika Investmart Pravesh Gaur said that the results of the third quarter of the current financial year i.e. October-December 2024 are going to be declared this week. IT sector giant TCS and Tata Elxsi will announce their financial results on Thursday, January 9. Investors will keep an eye on the performance of individual stocks.
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Pravesh Gaur believes that after the quarterly results, the market’s focus will be on the upcoming general budget and policy decisions of the Donald Trump 2.0 administration. He said that foreign institutional investors (FIIs) have been net sellers, while domestic institutional investors (DIIs) have remained buyers. This kind of ‘struggle’ between FII and DII will continue in the future and will play an important role in giving direction to the market this week.
Ajit Mishra, Senior Research Vice President, Religare Broking, said that looking at the second week of the new year, many major developments can affect the market sentiment. Quarterly results will start with TCS. The trend of withdrawal of foreign institutional investors (FIIs) may reverse due to better results of the third quarter. Apart from this, investors will keep an eye on HSBC Services PMI and Industrial Production (IIP) data for further signals. On Friday, the rupee fell four paise and closed at an all-time low of 85.79 per dollar.
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Vinod Nair, Research Head, Geojit Financial Services said that going forward the market will keep an eye on the third quarter results of the companies. It is expected that there will be improvement in the quarterly results of the companies as compared to the previous quarter. If we talk about the global front, then the results of the decisions taken in the meeting of the Federal Open Market Committee (FOMC) will be announced in this.
Last week, the 30-share BSE Sensex rose 524.04 points or 0.66 percent. Whereas National Stock Exchange’s Nifty gained 191.35 points or 0.80 percent. On Friday, the Sensex fell 720.60 points or 0.90 percent to close at 79,223.11. Nifty fell to 24,004.75 points with a loss of 183.90 points or 0.76 percent.
