Market Outlook this week: The US Central Bank’s interest rate decisions, quarterly results of companies, macroeconomic data and trading activities of foreign investors (FIIs) will determine the direction of the stock markets this week. Analysts have expressed this opinion. They believe that investors will also keep an eye on the trend of foreign markets and fluctuations in crude oil prices for further indicators.
Federal Reserve interest rate decision to come on July 31
This week, on July 31, the US Central Bank Federal Reserve is going to take decisions on interest rates. The Federal Reserve’s decision will be important to determine the direction of the market. During the week, GAIL, Adani Power, Bank of Baroda, BHEL, Coal India, Mahindra & Mahindra, Maruti, Tata Steel, Adani Enterprises and Tata Motors will announce quarterly results.
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Experts’ opinion
Santosh Meena, Head of Research, Swastika Investmart Ltd, said that this week everyone’s focus will be on global indicators, especially the US markets. The US Federal Reserve will announce its decision on interest rates on July 31, which will be important from the market point of view. The market is expecting a possible cut in interest rates this year. Apart from this, everyone will also keep an eye on other macroeconomic data from the US and China. On the domestic front, the first quarter results of companies will be important.
Arvinder Singh Nanda, Senior Vice President, Master Capital Services, said, “The market scenario will depend on key domestic and global economic data. India’s infrastructure production, manufacturing PMI data will come during the week. Apart from these, China’s manufacturing PMI data, BOE’s (Bank of England) interest rate decision, US non-agricultural employment data and Federal Reserve’s press conference will be important for the market.
Vinod Nair, Head of Research, Geojit Financial Services, said that going forward, the direction of the domestic market will be influenced by the quarterly results of companies. Apart from this, the policy meeting of the US Federal Reserve and the Bank of England, the US employment figures and the Eurozone Gross Domestic Product (GDP) figures will give direction to the market.
Deepak Jasani, Head of Retail Research, HDFC Securities, said that ‘In the coming week, global investors will keep an eye on the earnings data of the big technology companies of the US market, the Federal Reserve’s policy meeting and employment data. These will determine the direction of the US stock markets going forward.
Last week, the market was quite volatile and the BSE’s 30-share Sensex rose 728.07 points or 0.90 percent. Whereas the National Stock Exchange’s Nifty gained 303.95 points or 1.23 percent.
