2024-05-12 21:49:47
New Delhi: There was a lot of volatility in the stock market last week. There was a huge decline in the market. However, the market closed with gains on the last day of the trading week i.e. Friday. How the market is going to behave this week will be decided by many factors. The direction of stock markets this week will be decided by domestic inflation data, quarterly results of companies and global trend. Analysts have expressed this opinion. Market experts say that investors will also keep an eye on the news related to the general elections. Apart from this, activities of foreign investors, global crude oil prices and fluctuations of rupee against dollar will also decide the direction of the market. Swastika Investmart Ltd. Santosh Meena, head of research, said, “A lot of economic data is to come on both domestic and global fronts.” On the domestic front, wholesale inflation data will be released along with consumer price index based inflation. Globally, everyone’s attention will be on America’s Producer Price Index (PPI) and Consumer Price Index data.
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These figures will come
Meena said that apart from this, everyone will also keep an eye on the address of Federal Reserve Chief Jerome Powell. Data on China’s industrial production and Japan’s gross domestic product (GDP) growth rate are also to be released this week. Vinod Nair, head of research, Geojit Financial Services, said that the current trend in the domestic market is likely to continue for now due to uncertainties due to elections. He said that during the week, investors will keep an eye on consumer price index-based inflation of the US and India, Japan’s GDP data and the statement of the Federal Reserve Chief. Besides, the market will also take direction from the quarterly results of the companies.
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Results of these companies will come
During the week, quarterly results of big companies like DLF, Zomato, Bharti Airtel and Mahindra & Mahindra will come. “The market outlook will be dictated by key global and domestic economic data,” said Arvinder Singh Nanda, senior vice president, Master Capital Services. Apart from India’s retail inflation data, America’s Producer Price Index data, Japan’s GDP data and the statement of the Federal Reserve Chief will be in focus.
Siddharth Khemka, head of retail research, Motilal Oswal Financial Services Ltd, said, “Overall, we estimate that the market direction will be determined by the fourth quarter results of the companies, apart from global factors and election related news.” Last week, BSE’s 30. The broader Sensex fell by 1,213.68 points or 1.64 per cent. At the same time, Nifty of National Stock Exchange fell by 420.65 points or 1.87 percent.