stock markets The direction of this week will be decided by the quarterly results of companies, global trends and activities of foreign portfolio investors. Analysts have expressed this opinion. This week will be of less trading sessions. There will be a holiday in the market on 22 January. Maharashtra government has declared a holiday due to the consecration of Ram temple in Ayodhya. Apart from this, the stock markets will also remain closed on Friday, 26 January on the occasion of Republic Day. Vinod Nair, head of research at Geojit Financial Services, said, ‘This week, America’s GDP data, Bank of Japan and European Central Bank’s decision on interest rates will decide the direction of the market.’
Results of these companies will come
This week, Axis Bank, JSW Energy, Bajaj Auto, DLF, ACC and JSW Steel will announce their third quarter results. Motilal Oswal Financial Services Ltd. Siddharth Khemka, head of retail research, said, “This is a week with fewer trading sessions. Due to the quarterly results of many companies, special activities will be seen in the market. Apart from this, the decisions of BOJ and ECB on interest rates and America’s GDP data will be important for the market.
Sector specific activities will be visible before the budget
Last week, the 30-share BSE Sensex was down 1,144.8 points or 1.57 percent. NSE and BSE held normal trading sessions on Saturday, January 20. Swastika Investmart Ltd. Santosh Meena, head of research, said, “Expectations regarding the upcoming budget and sector-specific activities will give direction to the market. Globally, all eyes will be on Japan’s monetary policy and US economic data. Apart from this, investors will also keep an eye on geopolitical developments.
Pressure on the market due to FII selling
Meena said, “Last week the market witnessed continuous ups and downs. Due to this, Sensex and Nifty fell by more than one percent. The performance of Bank Nifty was very poor. He said that after the results of HDFC Bank, the pressure on the market has increased due to aggressive selling by foreign institutional investors (FIIs). Arvinder Singh Nanda, senior vice president, Master Capital Services, said, “The third quarter results of companies will be important. During the week, Axis Bank, Bajaj Auto, Canara Bank, CEAT, Indian Oil Corporation, Tata Steel, ACC, JSW Steel and many other companies will announce their December quarter results. Apart from this, the market will also take direction from domestic global developments, investment trend of FII (foreign institutional investors), DII (domestic institutional investors), movement of rupee against dollar and crude oil prices.
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