After the Nifty crossing the 18,600 level for the first time and the BSE Sensex crossing the 62,000 level, the bulls are finally looking to slow down a bit. The effect of which was that the market came in the hands of the bears and before closing with a fall of about 1 percent on a weekly basis, the market had broken from its record high by 3 percent during the last week.
The results of the companies are reflecting the effect of inflation in the prices of raw materials. Apart from this, the rising US bond yield is also showing its effect on the market sentiment. Apart from this, both FIIs and DIIs were net sellers last week. In the week ended October 22, Nifty had lost 223.65 points to close at 18,114.90. At the same time, the BSE Sensex fell 484.33 points to close at 60,821.62. All sectoral indices, except banking, closed in the red this week. Metal, FMCG, Pharma and Realty were the biggest losers, falling around 5 per cent.
More selling was seen in the small-medium stocks than the heavyweights, which outperformed the benchmark index in the rally so far. The BSE Midcap had lost over 4 per cent last week, while the Smallcap had lost more than 5 per cent.
Take a look at how the market is going to be today, on October 25, i.e. in today’s business, the market will first react to the results of Reliance Industries and ICICI Bank. Let us tell you that the results of Reliance came after the market closed on Friday. At the same time, the results of ICICI Bank came on Saturday.
Market watchers say that after last week’s sell-off, the market may look to trade in a range with a consolidation trend. There is also a monthly expiry this week, whose effect will be visible on Badar. Apart from this, the eyes of the market will be on the banking sector as well as other important results. Experts believe that this week the market may see support from the Banner Nifty, which crossed the level of 40000 last week.
Esha Shah of Samco Securities says that next week the market may be seen struggling to find its footing. And can be seen doing business in a circle. After crossing the 40,000 level for the first time last week, Bank Nifty is likely to continue in the headlines next week as well. Meanwhile, many big banks are going to present their results.
Where will the market be watching this week
We have reached the middle of the September quarter results season. This week, the second quarter results of about 700 companies will come, including 20 companies of Nifty50. The weightage of these 20 companies included in Nifty is 26.70 percent. This week Bajaj Finance, Bajaj Finserv, Kotak Mahindra Bank, ITC, L&T, Axis Bank, Maruti Suzuki, Titan Company, Adani Ports, Tech Mahindra, NTPC, Indian Oil Corporation, SBI Life Insurance Company, Bajaj Auto, Shree Cement, BPCL, Big results like IndusInd Bank, Dr Reddys Labs, Cipla and UPL will come.
इसके आलावा Among others, Lupin, Aditya Birla Sun Life AMC, Colgate-Palmolive (India), Coforge, CSB Bank, HDFC Asset Management Company, Indus Towers, ABB India, Ambuja Cements, Canara Bank, Adani Enterprises, Punjab National Bank, Zee Entertainment Enterprises, CarTrade Tech, DLF, Blue Star, InterGlobe Aviation, Karnataka Bank, Marico, RBI Bank, SBI Cards and Payment Services, Tata Power, Adani Power, Apollo Tyres, Bandhan Bank, Cadila Healthcare, Escorts, Exide Industries, GAIL India, Oberoi Realty, Vedanta, Voltas और Rossari Biotech भी इसी हफ्ते अपने दूसरी तिमाही के नतीजे पेश करेंगी।
Facebook us for social media updates (https://www.facebook.com/moneycontrolhindi/) and Twitter (.) to follow.