Stock Market Outlook Will Driven By Quarterly Results Of Companies And Inflation Nubers

Stock Market Outlook: Wholesale Price Index based inflation (WPI) data, quarterly results of companies and trend of foreign funds will determine the direction of the stock market this week. Analysts have expressed this opinion. He said that apart from this, global trends and fluctuations in crude oil prices will also be important from the market point of view.

Market results season begins with quarterly results of IT companies

Santosh Meena, head of research, Swastika Investmart, said, “The third quarter results have started with some of the big companies in the information technology sector. This week some big companies including HDFC Bank, IndusInd Bank, Asian Paints, JSW Steel and HUL will report their earnings. The figures will come. HDFC Bank’s December quarter net profit jumped 19.9 percent to Rs 12,698 crore. The profit of the bank has increased due to increase in basic income. The bank’s quarterly result came on Saturday.

US markets will remain closed on Monday

Meena said, “On the global front, the US markets will remain closed on Monday on account of Martin Luther King Jr. Day. However, many macro data are to come from the US, Europe and China. Investors will keep an eye on the returns and the dollar index.

Market will react on HDFC Bank data

Ajit Mishra, vice-president (technical research), Religare Broking Ltd., said, “Going forward, the direction of the market will be determined by the quarterly results of companies and global indicators. On the macro economic front, the Wholesale Price Index (WPI) based inflation data will come on January 16. All eyes will be on the banking sector stocks. First the market will react to the HDFC Bank data.”

FII sold shares worth Rs 10,000 crore

Meena said that last week foreign institutional investors (FIIs) sold shares worth about Rs 10,000 crore. FII trend is very important for the future direction of the market. Last week, the 30-share BSE Sensex gained 360.81 points or 0.60 per cent.

Will keep an eye on the quarterly results of banks

Quarterly results of Federal Bank, Bank of India and Union Bank of India are also to come during the business week starting tomorrow. Vinod Nair, Research Chief, Geojit Financial Services, said, “Going forward, investors will be watching the results of financial sector companies. Apart from this, market participants will be watching the quarterly results of IndusInd Bank, Kotak Bank and ICICI Bank.”

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