Market Outlook: Inflation data, quarterly results, global trend will determine market movement

Market Outlook: Inflation data, quarterly results, global trend will determine market movement

Stock Market Outlook: Wholesale price index based inflation data, global trends and foreign funds activities will decide the direction of the stock markets this week. Analysts have expressed this opinion. Apart from this, investors will also keep an eye on the ups and downs of crude oil prices and the trend of rupee against the US dollar.
Wholesale Price Index (WPI) based inflation data for March will be released on Monday.

What do financial experts say?

  • Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd said, “The trend of global markets, domestic and global macro economic data, crude oil prices and rupee’s movement against dollar will determine the market direction this week.”
  • Ajit Mishra, vice-president – technical research, Religare Broking Ltd, said, “All eyes will be on the quarterly results of the companies and the trend of the global market. On Monday, the market will react to the quarterly results of Infosys and HDFC Bank.”
  • Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Limited, said, “The movement of the global markets will determine the sentiment in the local market. The market will keep an eye on the fourth quarter results of the companies.”

Quarterly results of HDFC Bank and Infosys will affect market movements

HDFC Bank, the largest private sector lender, on Saturday announced its results for the quarter ended March. During the quarter, the bank’s integrated net profit increased by 20.6 per cent to Rs 12,594.5 crore.

The fourth quarter results announced by Infosys have not been as per expectations. In the next financial year, the company has estimated a growth of four to seven per cent in revenue, which is quite weak.

The quarterly results of some big companies like HCL Technologies, Hindustan Zinc, Tata Coffee and Tata Communications are going to come this week, whose impact will be seen on the market movement.

How was the condition of the stock market last week?

The 30-share BSE Sensex gained 598.03 points, or 0.99 per cent, during the week with low trading sessions. The stock markets were closed on Friday on account of Ambedkar Jayanti.

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