Share Market Next week: War has started between Iran and Israel. Iran has bombarded Israel with missiles. After the attack, the Israeli army is also preparing to counterattack. Will its impact be visible on the Indian stock market also? Santosh Meena, Head of Research, Swastika Investmart Ltd. said that this week will be important for the market. The reason for this is that due to increasing tension between Iran and Israel, panic selling can be seen in the global stock markets. Apart from this, the market will also keep an eye on the prices of crude oil, which is affected by geopolitical developments.” Experts say that its effect can also be seen on the Indian market. Selling may come here also.
Markets will remain closed on Wednesday
This week will be of less trading sessions. There will be a holiday in the market on Wednesday on ‘Ram Navami’. Geopolitical developments, macroeconomic data and quarterly results of companies will decide the direction of the stock markets this week. He said that the quarterly results of Infosys, Bajaj Auto and Wipro are to be released this week, on which investors will be keeping an eye. Meena said that on the macroeconomic front, China’s Gross Domestic Product (GDP) growth rate, US retail sales data and US bond yields, apart from the direction of the dollar index will be important for the market. On Monday, everyone’s eyes will be on the stock of Tata Consultancy Services (TCS).
There will be reaction on TCS results
The company has presented its January-March quarter results on Friday. The net profit of the leading company in the information technology sector has increased by nine percent to Rs 12,434 crore in the fourth January-March quarter of the last financial year. However, the company has faced many challenges in foreign markets. The net profit of the Tata group company for the entire financial year has been Rs 45,908 crore, an increase of nine percent. The company’s income has increased from Rs 2,25,458 crore to Rs 2,40,893 crore. “The market outlook will depend on key global and domestic economic data,” said Arvinder Singh Nanda, senior vice president, Master Capital Services. During this period, India’s wholesale price index based inflation data is to be released. Also, the data of unemployment claims is to come along with China’s GDP, America’s manufacturing production.
Environment will improve due to reduction in retail inflation
According to official data released on Friday, retail inflation declined to a five-month low of 4.85 percent in March. Retail inflation has come down due to softening of food prices. India’s industrial output growth reached a four-month high of 5.7 percent in February 2024 due to good performance by the mining sector, data released on Friday showed. Vinod Nair, head of research, Geojit Financial Services, said, “Investors are keeping an eye on the fourth quarter results of companies and geopolitical developments. These will give direction to the market.
Global factors are affecting the market
Mehta Equities Ltd. Senior Vice President (Research) of ICICI Bank said that although the Indian economy remains strong, negative news on the global front sometimes stops the momentum of the Indian stock markets. Stock market on Thursday on the occasion of ‘Eid-ul-Fitr’ Were closed on. Last week, the 30-share BSE Sensex fell marginally by 3.32 points. On Wednesday, the Sensex closed at its all-time high of 75,038.15 points. On Tuesday, it had touched its highest trading level of 75,124.28 points.
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