Market Outlook this week: In this week with fewer trading sessions, the direction of the market will be decided by the first quarter results of many big companies, macroeconomic data and global trade. Analysts have expressed this opinion. Apart from this, the trading activities of foreign investors will also be an important factor in deciding the market movement. There will be trading only for four days this week.The stock markets will remain closed on Thursday, August 15 on the occasion of Independence Day.
These figures are to come this week
This week, companies like Hero MotoCorp, Hindalco, Vodafone Idea, NMDC, IRCTC, SJVN, PC Jeweller are expected to announce their results. On the macroeconomic front, June’s industrial production data and July’s retail inflation data will be announced on Monday. Wholesale Price Index based retail inflation data will be released on Wednesday.
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What do experts say
Pravesh Gaur, Senior Technical Analyst at Swastika Investmart Ltd, said that this week all eyes will be on the international markets as we may see the impact of weakness after a long period of stability. Indian equity markets may also struggle to maintain the level to some extent this week. Apart from the high valuation of the market, geopolitical tensions are also increasing. He said that on the domestic front, the final round of financial results of companies for the April-June quarter i.e. the first quarter of the current financial year will decide the direction of specific stocks this week. This week, results of some big companies like Hero MotoCorp and Hindalco are going to come. Pravesh Gaur believes that institutional flow will also play an important role in the dynamics of the market.
Vinod Nair, Research Head, Geojit Financial Services, said that apart from the Indian inflation rate data coming this week, the global markets will decide the direction of the domestic market.
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Last week, the BSE Sensex fell 1,276.04 points or 1.57 percent while the NSE Nifty fell 350.2 points or 1.41 percent. Global stock markets fell sharply last week due to the closure of the yen carry trade and fears of recession in the US.
