share The direction of the markets will be decided this week by the interim budget, the US Central Bank’s decision on policy interest rates and the quarterly results of companies. Analysts have expressed this opinion. Analysts say that apart from this, investors will keep an eye on the activities of foreign investors and global trend for further signals. On the macroeconomic front, PMI data for the manufacturing sector will come on Thursday. Finance Minister Nirmala Sitharaman will present the interim budget for 2024-25 on February 1.
FOMC meeting will be held on January 30-31
The Federal Open Market Committee (FOMC) will meet on January 30 and 31. Siddharth Khemka, head of retail research at Motilal Oswal Financial Services, said, ‘The market will remain in a range before the US Federal Reserve’s decision on interest rates. It is believed that in this meeting the US Central Bank will keep the interest rate unchanged and will give indications about the deadline for further policy rate cuts. Apart from this, the monetary policy of BOE (Bank of England) is also coming. Also, some major economic figures are to come, due to which there may be fluctuations in the market.
Results of many companies will come
He said, “Apart from this, many big companies will release their quarterly results this week. In such a situation, share-specific activities can be seen in the market.” During the week, Adani Green Energy, Bajaj Finance, Bajaj Finserv, Maruti Suzuki India, Titan and InterGlobe Aviation will announce their quarterly results. Angel One technical analyst Rajesh Bhosale said that this week is important. There are important budget developments during the week. This usually decides the market direction going forward.
The market had fallen last week
Vinod Nair, head of research, Geojit Financial Services, said, “Going forward, global factors like policy rate decisions of major countries will influence the market. Due to the current quarterly results season, special activities may be seen in the shares in the market. Last week, the 30-share Sensex of BSE fell by 982.56 points or 1.37 percent. At the same time, Nifty of National Stock Exchange fell by 269.8 points or 1.24 percent.
No major announcements expected in the budget
A report by Axis Securities said that this is an interim budget before the general elections. In such a situation, no major announcements are expected. “We believe the budget will focus on maintaining the growth framework. There may also be some populist announcement in it. Santosh Meena, Head of Research, Swastika Investmart Limited, said, “Budget, quarterly results and the decision of the US Central Bank on interest rates will give direction to the market.” Apart from domestic factors, the market will be influenced by global developments. Apart from geopolitical developments, these include yield on bonds in America, movement of rupee against dollar and crude oil prices.
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