Mumbai, April 20 (IANS). The week to the Indian stock market is going to be very important. The quarterly result, PMI and FII data and global economic figures will determine the market move.
The results of the fourth quarter of FY 25 will be released by Tata Investment Corporation, HCL Tech, Tata Communications, Bajaj Housing Finance, Axis Bank, Hindustan Unilever and RBL Bank during 21-25 April.
According to Bajaj Broking Research, manufacturing and services PMI data will be released on April 23 by S&P Global at the domestic level. This gives information about business activities in industrial and services sector in the country. At the same time, in addition to this, meeting minutes of RBI Monetary Policy Committee (MPC) will also be released, which will give detailed information about the outlook of inflation and the policy of the central bank.
At the same time, the data of manufacturing and services PMI will also be released in the US globally. In addition, the jobless claim report will also be released.
Even after two days of holiday, the stock market performed brilliantly last week. The Nifty rose by 1,023 points or 4.48 percent to 23,851 and the Sensex increased by 3,395 points or 4.52 percent to close at 78,553.
Banking shares led the market boom. Meanwhile, the Nifty Bank rose by 3,287 points or 6.45 percent to close at 54,290.
The reason for the market boom is believed to be global and domestic reasons. The market sentiments have improved due to the ban on reciperook tariffs in the US and decrease in repo rate from RBI.
Foreign institutional investors (FIIs) invested over one billion dollars in the last three trading sessions in the Indian stock market.
Vishnu Kant Upadhyay, Associate Vice President of Research and Advisory at Master Capital Services, said that the market is currently close to the level of 23,800-24,000. If there is a breakout from here, then up to 24,800 rally can be seen. At present, the shopping strategy on selling will be correct.
-IANS
ABS/
