Share Market Update: Wholesale Price Index based inflation data, global trend and activities of foreign funds will decide the direction of stock markets this week. Analysts have expressed this opinion.
Apart from this, investors will also keep an eye on the ups and downs of crude oil prices and the trend of rupee against the US dollar. Wholesale Price Index (WPI) based inflation data for March will be released on Monday.
Share market update
Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd said, “The trend of global markets, domestic and global macro economic data, crude oil prices and rupee’s movement against dollar will determine the market direction this week.” Quarterly results of some big companies like HCL Technologies, Hindustan Zinc, Tata Coffee and Tata Communications are to come this week.
Global Markets
Ajit Mishra, Vice President – Technical Research, Religare Broking Limited, said, “The quarterly results of the companies and the trend of the global market will be watched by all. On Monday, the market will react to the quarterly results of Infosys and HDFC Bank. HDFC Bank, the largest private sector lender, on Saturday announced its results for the quarter ended March.
The integrated net profit of the bank during the quarter has increased by 20.6 percent to Rs 12,594.5 crore. Infosys’ fourth quarter results announced on Thursday have not been as per expectations.
In the fourth quarter results,
the company has estimated a revenue growth of four to seven percent in the next financial year, which is quite weak. The 30-share BSE Sensex gained 598.03 points, or 0.99 per cent, during the week with low trading sessions.
The stock markets were closed on Friday on account of Ambedkar Jayanti. Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Ltd. said, “The movement of global markets will determine the local market sentiment. The market will keep an eye on the fourth quarter results of the companies.
