Analysts believe that the trend of the stock market this week will be decided by the quarterly results of the companies and global cues. It is worth noting that the coming week will be short in terms of business days due to holidays.
Analysts believe that the trend of the stock market this week will be decided by the quarterly results of the companies and global cues.
Analysts believe that this week Share Market The trend will be determined by the quarterly results of the companies and global cues. It is worth noting that the coming week will be short in terms of business days due to holidays. The stock markets will remain closed on Tuesday on the occasion of Muharram. Analysts said the stance of foreign investors will also play an important role in deciding the direction of the market.
Adani Ports, Bharti Airtel results will come
Santosh Meena, Head of Research, Swastika Investmart Limited said that this week the market will face the last leg of quarterly earnings. The market has to react to the results of SBI, HPCL and BPCL. He further said that apart from this, the results of Adani Ports, Bharti Airtel, PowerGrid, Coal India, Eicher Motors, Hindalco, Grasim, Hero MotoCorp, LIC, ONGC and Bata India will also come in the coming week.
State Bank of India (SBI) had said on Saturday that its standalone net profit declined by seven per cent. Similarly, Hindustan Petroleum Corporation Limited (HPCL) has reported a quarterly loss of Rs 10,196.94 crore. Meena said global cues will be important for the market as geopolitical concerns are increasing.
Apart from this, investors will also have an eye on macroeconomic data. India will announce its CPI and IIP figures on August 12. US inflation data will come on August 10.
Sino-Taiwan tensions may bring instability
Ajit Mishra, Vice President Research, Religare Broking Ltd, said that further escalation of China-Taiwan tensions may increase volatility in the market. In terms of data, IIP and CPI inflation figures are due on August 12. At the same time, BSE’s 30-share index Sensex has gained 817.68 points or 1.42 per cent last week.
Let us tell you that the trend of growth in the stock market is going on, once again increasing investment by foreign investors. Strengthening of rupee against dollar, fall in crude oil coupled with better results of companies have improved the signals, due to which investors are now buying in the market. And for this reason, the stock market continued to rise this week. At the beginning of the week, there was a sharp rise in the market. However, later it had its ups and downs.
(with language input)