Market status depends on it, know what the experts say

In the absence of macroeconomic indicators, the first-quarter results of the companies this week determine the direction of stock markets. Analysts have expressed this view. Analysts feel that a lack of enthusiasm in global markets could lead to volatility here. On Wednesday, the stock markets will close during the ‘Buckrid’.

Religious Broking Research Vice President Ajit Mishra said, “This is a week of shorter trading hours. Global developments and quarterly results determine the direction of the market. Moreover, developments related to Kovid-19 and the progress of the monsoon also determine the market trends. The quarterly results of many large companies are coming up in a week.

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The biggest companies this week were Reliance, ACC, Asian Paints, Bajaj Finance, Bajaj Auto, HCL Technologies, HDFC Life Insurance, ICICI Prudential Life Insurance, Hindustan Unilever, UltraTech Cement, Ambuja Cement and Mercury. .

Vinod Modi, Head of Strategy at Reliance Securities, said, “In our view, Monsoon’s progress, Q1 results, Kovid-19 infection rate will determine the direction of stock markets in the near future,” said Vinod Nair, Head of Research, Geojit Financial Services. “As we enter the quarterly results season, the direction of the market will depend on quarterly results and comments from companies.

The 30-share BSE 30-share Sensex rose by 753 points, or 1.43 per cent, to Rs. The benchmark Sensex and Nifty rose 1.4 per cent and 1.5 per cent, respectively. In addition, market participants are tracking the volatility of the dollar, Brent crude oil prices and rupee volatility against foreign institutional investors’ investment trends, analysts said.

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