The BSE 30-share Sensex gained 1,308.39 points, or 3.49 per cent, last week amid unlocked 5.0-related guidelines, positive macroeconomic data and expectation of stimulus measures in the US. The markets were closed on Gandhi Jayanti on Friday. At the same time, the direction of the stock markets this week will be determined by the quarterly results of information technology majors, events related to the ban on loan payments and the global trend. Experts expressed this opinion. Experts said that investors will be watching the data on corona virus infection and the events related to the US presidential election.
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TCS quarterly results on October 7
Ajit Mishra, vice-president-research, Religare Broking, said, “This week will start the season of quarterly results. The quarterly results of ITS major TCS will come on October 7. Apart from this, news related to Kovid-19 and developments related to the US presidential election will determine the direction of the market. US President Donald Trump said on Friday that he and his wife Melania Trump were infected with the Corona virus. Trump’s election campaign is likely to be affected by this development in the US just before the presidential election.
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Vinod Nair, head of research, Geojit Financial Services, said, “The market will take direction from the Supreme Court hearing on the announcement of stimulus measures in the US and the moratorium on loan payments.” The Supreme Court will hear an appeal for exemption from interest during the loan repayment period on Monday. Analysts said that apart from this, investors will keep an eye on the services sector PMI data, rupee fluctuations and crude oil prices. PCG research Sanjiv Zarbade, vice-president, Kotak Securities, said, “Going forward, the market will be looking at quarterly results, especially for IT companies.
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