Covid-19 infection trends, vaccination speed and global factors determine the direction of stock markets this week. Apart from this, there is no such development on the domestic front, which could lead to markets being analyzed, analysts said. Religare Broking Research Vice President Ajit Mishra said, “Market participants will observe monsoon progress in a week. With this comes the Industrial Production (IIP) data coming out on June 11th. The market expects states to further loosen sanctions, with a view to reducing cases of infection.
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Big quarter companies such as Bata India, Gale, SIL, BHEL and DLF are expected to report quarterly results. Industrial production figures are set to come up after the business closes on Friday. In addition, quarterly results of Union Bank of India, Petronet LNG and NHPC are also coming up in the week. Vinod Nair, Head of Geojit Financial Services Research, said: “The COVID-19 cases have reduced and the market will maintain its belligerence in the short term. April production and industrial production figures are coming up this week.
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The 30-share BSE 30-share Sensex rose 677.17 points, or 1.31 per cent. Reliance Securities Strategic Head Vinod Modi said, “Investors are looking at the pace of infection cases and vaccinations in the near future. Nirmali Shah, head of equity research at Samco Securities, said, “Indian markets are globally dependent on commodity and stock volatility. Moreover, crude oil prices, rupee volatility and the investment trend of foreign institutional investors also determine the direction of the market, analysts said.
