companies Quarterly results, global trends and trading activities of foreign investors will decide the trend of the stock market this week. Analysts have expressed this opinion. This week will be of less trading sessions. Analysts believe that due to the ongoing general elections, investors may adopt a cautious approach now. Stock markets will remain closed on Monday due to voting for the fifth phase of Lok Sabha elections in Mumbai. “The fourth quarter earnings season is coming to an end,” said Pravesh Gaur, senior technical analyst at Swastika Investmart Ltd. Better results of companies can provide some relief to the market which is stuck in confusion.
Jerome Powell’s speech will be in focus on Monday
He told that US central bank Federal Reserve chief Jerome Powell will address on Monday. This may affect market sentiment. He said that apart from this, economic data from Japan and America and fluctuations in the global currency market will be important for the direction of the market. ONGC, SAIL, BHEL, JK Tyre, One97 Communications, Power Grid, InterGlobe Aviation, ITC and NTPC will announce their quarterly results during the week.
Manufacturing PMI data will come
Arvinder Singh Nanda, Senior Vice President, Master Capital Services, said, “The market outlook this week will be determined by key domestic and global economic data. PMI manufacturing and service sector data in India is to come. Apart from this, Britain’s inflation, America’s unemployment claims, S&P’s global services and global manufacturing data are to come. Also, on the domestic front, quarterly results of many big companies will be declared.
Crude oil prices will be monitored
Apart from this, investors will keep an eye on the rupee-dollar trend and global crude oil prices. Prashant Tapse, senior vice president (research), Mehta Equities Limited, said, “Market volatility may increase in the next few weeks. Selective buying will continue in shares of some large, medium and small companies. Vinod Nair, Head of Research, Geojit Financial Services said, “The market is likely to remain volatile in the near future amid uncertainties regarding election results and quarterly earnings. is likely to.”
Sensex rose 1,341 points last week
Last week, the 30-share BSE Sensex gained 1,341.47 points or 1.84 percent. At the same time, Nifty of National Stock Exchange rose 446.8 points or two percent. The National Stock Exchange and BSE held a special trading session in the equity and equity derivatives segment on May 18 to examine their preparedness to deal with major disruptions on the primary site.
Latest Business News