Last week, the BSE 30-share Sensex was up 753 points or 1.43 per cent. This week, the market may remain volatile due to the slowdown in global markets and selling of FIIs.
The stock markets will remain closed on Wednesday on the occasion of ‘Bakrid’.
Share market updates: In the absence of macroeconomic indicators, the first quarter results of companies this week will decide the direction of the stock markets. Analysts have expressed this opinion. Analysts believe that due to lack of enthusiasm in the global markets, volatility may remain here. The stock markets will remain closed on Wednesday on the occasion of ‘Bakrid’.
Ajit Mishra, Vice President Research, Religare Broking said, “It is a week with less trading sessions. Global developments and quarterly results will decide the direction of the market. Apart from this, the developments related to COVID-19 and the progress of monsoon will also decide the market trend. There are quarterly results of many big companies to come during the week. The quarterly results of big companies like Ambuja Cement and JSW Steel will come.
Market movement will be decided by monsoon and quarterly results
Vinod Modi, Head of Strategy, Reliance Securities, said, “In our view, the progress of monsoon, Q1 results, rate of COVID-19 infection will decide the direction of the stock markets in the near future.” Vinod Nair, Head of Research, Geojit Financial Services. Said, “We are entering the season of quarterly results. In such a situation, the direction of the market will depend on the quarterly results and comments of the management of the companies. Area specific based activities will be seen during the week. However, the market may remain volatile due to sluggishness in global markets and selling by foreign institutional investors.
Sensex up 1.43 per cent
Last week, the BSE 30-share Sensex was up 753 points or 1.43 per cent. Sensex and Nifty hit record highs and were up 1.4 per cent and 1.5 per cent respectively. At the same time, market participants will keep an eye on the volatility of the rupee against the dollar, Brent crude oil prices and investment trend by foreign institutional investors, analysts said.
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