Stock Market Update: These days there are constant ups and downs in the stock market. Along with global cues in the market next week, the effect of quarterly results of companies will also be seen. In the coming week, there may be a phase of volatility in the equity markets. According to experts, the market’s eyes will also remain on the withdrawal of funds from foreign investors.
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Santosh Meena, Head of Research, Swastika Investmart Ltd, said, “It is expected that the new week will start on a slightly softer level after the sharp fall in the US market on Friday after the comments of the US Fed Reserve and weak earnings. This week’s sentiments may be influenced by global cues along with the end of April Monthly Derivatives and Q4 results.
Quarterly results of many companies including HUL will come
Meena said that the market reaction will be seen on the quarterly results of ICICI Bank on Monday. At the same time, this week the quarterly results of HDFC LIfe, Bajaj Auto, HUL, Ambuja Cement, Axis Bank, Bajaj Finserv, Vedanta, IndusInd Bank, Maruti Suzuki, UltraTech Cement and Wipro are also going to come.
Will also keep an eye on crude oil prices
Meena said Foreign Institutional Investors (FIIs) are continuing to sell in the Indian equity market and will keep an eye on their behavior this week amid concerns of a rate hike in the US. He said that the market will also keep an eye on crude oil prices amidst the uncertainty surrounding the Russo-Ukraine war.
stock market closed in loss
Joseph Thomas, head of research at Emkay Wealth Management, said, “Eastern Europe is still in a constant state of war. The ECB is likely to change rates, and the reaction of the Federal Reserve will also decide the trend of the markets in the coming week. “The domestic stock markets closed with losses in the last week. Last week, the Sensex lost 1,141.78 points or 1.95 per cent, while the Nifty was at a loss of 303.70 points or 1.73 per cent.
Fed Reserve likely to hike rates
Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd., says, “The possibility of a hike in Fed Reserve rates, rising inflation and bond yields apart from sluggish economic growth, prolongation of the Russia-Ukraine war and volatile crude oil prices.” Making the markets uncertain. The weak results of some big companies along with continuous selling by foreign investors has also put the market under pressure.
Milind Muchala, executive director of Julius Baer, said investors may prefer to wait for the announcement of the results of more companies. “The market is likely to see significant volatility in the near term due to concerns about rising commodity prices due to geopolitical situation and supply chain challenges and fears of the Fed Reserve raising rates,” he said.