Mumbai, May 25 (IANS). The next week is going to be very important for the Indian stock market. IIP data, Fed Minutes, Fourth quarter results and market movements on domestic economic figures will depend.
The data of the Industrial Production Index (IIP) of April will be released on May 28 at the domestic level. Provisional data of FY 2024-25 GDP and GDP of the fourth quarter of FY 2024-25 will be released on 30 May.
Next week, the results of FY 2024-25 will be released by other companies including PC Jewelers, Bajaj Healthcare, BULLICARE, Lumax Industries, Park Hotels, EIDParry, EPAC, Hindustan Copper, JK Lakshmi Cement, 3M India and Bajaj Auto.
The minutes of the Fed Meeting will be released in the US on 28 May. This will provide more information about the monetary policy of the US. The first quarter GDP data will be released on 29 May.
The last week was mixed for the Indian stock market. During this period, the Nifty and Sensex fell 0.7 percent to close at 24,853 and 81,721.
The trading session of May 19-23 saw purchases in PSU Bank and Realty. The Nifty PSU bank index closed with a gain of 1.12 percent and the Nifty Realty Index 2.66 percent.
FMCG and Pharma saw selling. The Nifty Pharma Index closed down 0.92 percent and the Nifty FMCG index fell by 0.98 percent.
Puneet Singhania, director of the Master Trust Group, said, “This week the Nifty has closed down with losses below 25,000. However, the index remains above its moving average. 59 indicates the RSI strengthening. Strong support is around 24,500. If it breaks, it can be seen in Nifty if it breaks.”
-IANS
ABS/