The direction of the local stock markets will be decided this week by the prices of domestic macroeconomic data and the attitude of foreign investors.
The direction of the local stock markets will be decided this week by the domestic macroeconomic data, global trends, crude oil prices and the attitude of foreign investors. Analysts have expressed this opinion.
local stock exchanges (Share Market) The direction of this week’s domestic macroeconomic data, global trends, Crude oil (Crude Oil) prices and foreign investors (Foreign Investors) will be determined by the attitude of Analysts have expressed this opinion. Analysts also believe that the quarterly results of the companies (Company Results) The market may remain volatile before the start of the season. He said a weak global trend and pre-quarter results weighed on the market sentiment.
Santosh Meena, Head of Research, Swastika Investmart Limited said that the market is recovering after going down every day. Weakness in global markets, depreciating rupee and tax on windfall gains of domestic refineries weighed on the market sentiment.
Rupee fluctuations will also affect
Meena said that Foreign Institutional Investors (FIIs) are still selling, but their selling momentum has slowed down. In such a situation, if the global market remains stable, then fast movements can be seen in the market. He said that the volatility of crude oil prices, dollar index and rupee are other factors, which will decide the direction of the market going forward.
Ajit Mishra, Vice President-Research, Religare Broking said that quarterly results season will begin this week. Information technology company Tata Consultancy Services (TCS) will announce its quarterly results on July 8. Market participants will keep an eye on this. Apart from this, the trend of global markets, volatility in crude oil prices and news on the front of Russia-Ukraine war will be important from the market point of view, Mishra said. On the macroeconomic data front, the services sector data of the Purchase Managers’ Index (PMI) will come on Tuesday, which will definitely affect the business sentiment.
What will affect the global markets?
Yesha Shah, Head of Equity Research, Samco Securities said that the market will remain volatile this week as well. On the macroeconomic front, investors’ eyes will be on the details of the Federal Open Market Committee (FOMC) meeting. Apart from this, the trend of global markets will be affected by the inflation data of China, which is to come this week.
With this, the season of quarterly results is going to start on the domestic front. In such a situation, special activities can be seen in the stock.
Last week, the BSE 30-share Sensex has gained 179.95 points or 0.34 per cent. At the same time, the Nifty of the National Stock Exchange rose 52.80 points or 0.33 percent. Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services, said that the market has shown combative ability despite various hurdles. He said that for the last about 15 trading sessions, Nifty has been in a wide range and volatility has increased in it. Going forward, the market trend may remain weak, as global trends still remain important from the market point of view.
(with language input)