Local markets will also take direction from the trend of global markets.
The quarterly results of companies will decide the direction of the stock markets this week. Apart from this, there may be volatility in the market due to derivatives settlement. Analysts have expressed this opinion. Apart from this, the local market will also take direction from the trend of global markets, he said.
Santosh Meena, Head of Research, Swastik Investmart said, “If we talk about the indicators for the next week, then the quarterly results of the companies and the futures and options settlement for the month of October may keep the market volatile.” Meena said. Said that on Monday the market will react to the results of Reliance Industries and ICICI Bank. He said that the quarterly results of Tech Mahindra, Ambuja Cement, Axis Bank, Kotak Mahindra Bank, Adani Ports, L&T, Bajaj Auto, ITC, Maruti Suzuki, DLF, Indigo and Tata Power will come during the week.
Reliance, ICICI Bank results will have an impact
Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services said, “The market will react on the results of Reliance and ICICI Bank on Monday. Apart from this, investors will also be watching the global trend.
Reliance’s profit up 43 percent
ICICI Bank’s standalone net profit for the September quarter has reached a record Rs 5,511 crore. The net profit of the bank has increased due to reduction in bad loans. The quarterly result of the bank came on Saturday. Billionaire industrialist Mukesh Ambani-led Reliance Industries reported a 43 per cent increase in net profit for the September quarter. The company’s quarterly results came on Friday.
Sensex had slipped 484 points last week
Yesha Shah, Head of Equity Research, Samco Securities, said, “The market will have to struggle a bit this week and will remain in a narrow range. The market may remain volatile due to monthly settlement.” Last week, the 30-share BSE Sensex fell 484.33 points or 0.79 per cent.
Markets may fall further in the short term
Vinod Nair, Head of Research, Geojit Financial Services, said, “This week, the focus of the domestic markets will be on the companies’ second quarter results. If the results are not favourable, the market may fall further in the short term.
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