In the absence of any major developments on the domestic front, the direction of the stock markets will be decided by the global trends this week.
In the absence of any major developments on the domestic front, the direction of the stock markets will be decided by the global trends this week. Expressing this opinion, analysts said that investors will also keep an eye on the trend of foreign funds and crude oil prices.
In the absence of any major developments on the domestic front, this week the stock markets (Share Market) The direction will be determined by global trends. Expressing the view, analysts said that investors are watching the trend of foreign funds and Crude Oil prices will also remain the same. They believe that apart from this monsoon (Mansoon) market progress (Stock Market) point of view would be important. Santosh Meena, Head of Research, Swastika Investmart said that the major concern for the Indian markets is the indiscriminate selling by Foreign Institutional Investors (FIIs). He said that rupee fluctuations and news related to monsoon will also be important from the market point of view.
Ajit Mishra, Vice President – Research, Religare Broking said that in the absence of any major developments on the domestic front, the direction of the local markets will be determined by the global trend. Market participants will be watching the cases of Kovid infection and progress of monsoon.
The stock market fell last week
Last week, the 30-share BSE Sensex fell 2,943.02 points or 5.42 per cent. At the same time, there has been a loss of 908.30 points or 5.61 percent in the Nifty of the National Stock Exchange.
Meena said that due to weak global trend, aggressive increase in interest rates in the US and selling of FIIs, there was a sharp fall in the market last week.
Shivani Kurien, Senior EVP and Head of Equity Research, Kotak Mahindra Asset Management Company said that there are many things that will decide the market trend this week. He said that factors like inflation and monetary policy, commodity prices especially crude oil, news related to Ukraine-Russia war front and domestic demand and corporate earnings will decide the direction of the markets in the near future.
Yesha Shah, Head of Equity Research, Samco Securities said that there is no major development going to happen this week on the domestic and global front. In such a situation, global trends will be important for the local markets.
Apart from this, let us tell you that amidst strong selling, the market cap of the top-10 companies of Sensex fell by Rs 3.91 lakh crore last week. Tata Consultancy Services and Reliance Industries suffered the most.
(with language input)
Source: www.tv9hindi.com
: Language Inputs