Market Outlook This Week: Analysts believe that this week, apart from the events related to Russia-Ukraine dispute, macroeconomic data will decide the direction of the market.
Market Outlook This Week: Events related to the Russia-Ukraine conflict will determine the direction of the stock markets this week. Markets around the world fell sharply after Russia launched a military operation against Ukraine last week. Analysts believe that this week, apart from the events related to the Russia-Ukraine dispute, macroeconomic data will decide the direction of the market. Analysts said that this week estimates of Gross Domestic Product (GDP) and PMI figures for the manufacturing and services sector are to come.
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What do experts say
- Kotak Securities Head Equity Research (Retail) Shrikant Chauhan said, “With the quarterly results season behind, the market will take direction from global markets in the coming week.” He added that all eyes are on Russia-Ukraine dispute. related events. Apart from this, market participants will also keep an eye on energy prices.
- Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services, said, “The market will be watching the Russia-Ukraine dispute.”
- He said that traders will have to be cautious of heavy volatility. On the other hand, investors can take advantage of the recent fall and add shares of large companies to their portfolio.
- All eyes will also be on the stocks of auto companies during the week. Auto companies’ February sales figures will come on March 1.
- The National Statistical Office (NSO) will release the GDP estimates for the third quarter of 2021-22 on February 28. On the global front, Russia continues to attack Ukraine’s airspace and fuel facilities. The US and the European Union have provided weapons to Ukraine with some strong sanctions on Russia.
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There was a big fall in the stock market on Thursday
On Friday, after the heavy fall of Thursday, the Sensex and Nifty saw a rise of about 2.5 percent. Thursday was the worst day for the market in the last two years. On Friday, the BSE 30-share Sensex rose 1,328.61 points or 2.44 percent to reach 55,858.52 points. Similarly, the Nifty of the National Stock Exchange ended with a gain of 410.45 points or 2.53 per cent at 16,658.40 points. On a weekly basis, the Sensex is down 1,974 points or 3.41 per cent, while the Nifty is down 618 points or 3.57 per cent. Analysts believe that the market will see huge volatility during the next few days.
(Input-PTI)
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