Market Outlook this week:The direction of the stock markets this week will be decided by the quarterly results of companies, global trends and activities of foreign investors. Expressing this opinion, analysts said that there may be fluctuations in the market during the week. Last day, HDFC Bank and Kotak Mahindra Bank released their second quarter results. Experts say that this week the market may be affected by the second quarter results of companies. Apart from this, there is a possibility of increasing geopolitical risk due to increasing tension between Israel and Iran, due to which the prices of crude oil may rise and there may be fluctuations in the market.
All eyes will be on them
This week ITC, Hindustan Unilever, Bharat Petroleum Corporation Ltd. (BPCL), Hindustan Petroleum Corporation Ltd. Second quarter results of companies like (HPCL) and UltraTech Cement are to be announced. Apart from this, quarterly results of Bajaj Housing Finance, Adani Green Energy, Bajaj Finance, One97 Communications, Zomato, Bajaj Finserv and Bank of Baroda will also come during the week.
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What do experts say
Pravesh Gaur, senior technical analyst at Swastika Investmart, said that everyone will keep an eye on the second quarter results of the companies. Apart from this, there is a possibility of increasing geopolitical risk due to increasing tension between Israel and Iran, due to which the prices of crude oil may rise and there may be fluctuations in the market. Foreign institutional investors (FIIs) have so far played a major role in the performance of the Indian market. Their stance will depend on global economic conditions and domestic political developments.
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Ajit Mishra, senior vice president, Religare Broking, said that in the absence of any key indicators, market participants will keep an eye on the quarterly results of companies.First of all they will react to the results of big banks like HDFC Bank and Kotak Bank.
HDFC Bank’s September quarter standalone net profit increased by 5 percent to Rs 17,825.91 crore. The bank’s quarterly results came on Saturday. On a standalone basis, the net profit of the largest private sector bank increased to Rs 16,820.97 crore in the September quarter, whereas this figure was Rs 15,976.11 crore in the same quarter a year ago. Last day, Kotak Mahindra Bank had also released the results for the September quarter. The bank’s September quarter profit has increased by 13 percent. The standalone net profit of the bank in the second quarter of the current financial year stood at Rs 5,044 crore. During this period, the net profit of the bank has increased by five percent to Rs 3,344 crore.
He told that after this ITC, Hindustan Unilever, Bharat Petroleum Corporation Ltd. (BPCL), Hindustan Petroleum Corporation Ltd. Companies like (HPCL) and UltraTech Cement will also announce their quarterly results. Apart from this, quarterly results of Bajaj Housing Finance, Adani Green Energy, Bajaj Finance, One97 Communications, Zomato, Bajaj Finserv and Bank of Baroda will also come during the week.
Prashant Tapse, Senior Vice President (Research), Mehta Equities Limited, said that investors are being cautious due to geo-political tension uncertainty, slowdown in China’s economy and continuous FII withdrawal from domestic markets. Last week, the domestic market fell due to heavy withdrawal of foreign funds. Last week, the 30-share Sensex of BSE fell by 156.61 points or 0.19 percent. At the same time, Nifty of National Stock Exchange fell by 110.2 points or 0.44 percent.
VK Vijayakumar, chief investment strategist, Geojit Financial Services, said that the trend of selling by FIIs and buying by DIIs (domestic institutional investors) is likely to continue in the near future. The reason for selling by foreign institutional investors is high valuations in India and cheap valuations of Chinese shares.