Share Market Outlook : The season of elections and quarterly results is now coming to an end. In such a situation, some strength will be seen in the local stock markets this week. However, along with this, some volatility can also be seen in the market. Analysts have expressed this opinion. Analysts say that the global trend and the business activities of foreign investors will also be important from the market point of view. Last week, the market witnessed a record rise. Analysts said that investors will also keep an eye on the price of Brent crude oil at the global level and the fluctuations of the rupee against the dollar. The settlement of monthly derivative contracts is on Thursday. This can also cause fluctuations in the market.
Economic data from Japan and the US
Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Ltd. said, “The fourth quarter results are now coming to an end. This week many companies including Tata Steel will announce their quarterly results. Better results of companies can help in maintaining the momentum of the market.” He said that the results of the Lok Sabha elections will be announced on June 4. The election results can strengthen the flow of foreign institutional investors (FII). He said that on the global front, the upcoming economic data of Japan and America as well as the movement in the global currency market will also be important from the market point of view.
LIC and IRCTC results will come
Religare Broking Limited Senior Vice President-Research Ajit Mishra said, “This week the market will be eyeing the general elections, global trends and quarterly results of companies.” During the week, LIC, NMDC, IRCTC and MMTC will announce their March quarter results. Motilal Oswal Financial Services Limited Retail Research Head Siddharth Khemka said, “Overall, we expect the market to rise gradually. The election and quarterly results season is about to end, so the market will see some volatility.”
GDP figures will come on Friday
The gross domestic product (GDP) growth rate data for the March quarter will be released on Friday. Last week, the 30-share BSE Sensex gained 1,404.45 points or 1.89 percent. At the same time, the National Stock Exchange’s Nifty climbed 455.1 points or 2 percent. The Sensex reached its all-time high of 75,636.50 points in intraday trading on Friday. The Nifty crossed the 23,000 point mark for the first time on the same day. During the day’s trading, it reached its all-time high of 23,026.40.
Latest Business News