Monday, November 28, 2022
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Selling will continue in the market even further! Quarterly results and global cues will give direction

Stock Market Update: Investors are very worried about the fall in the stock market. If your money is also invested in the stock market, then you know how the business is going to be in the market next week. – will be determined by the ups and downs. Apart from this, the price of Brent crude oil at the international level will also affect the market sentiment.

Results of many companies including HUL, Wipro will come
Santosh Meena, Head of Research, Swastika Investmart said that on Monday this week, the market will react to the quarterly results of HDFC Bank. The quarterly results of Ambuja Cement, Hindustan Unilever, IndusInd Bank and Wipro are also to come during the week.

How will the global market behave?
Meena said that if we talk about the global level, then the decision of the European Central Bank and the Bank of Japan on interest rates will be important from the market point of view. Also, the trend of the dollar index will also be important from the market point of view. Along with this, the market will keep an eye on commodity prices and the attitude of Foreign Institutional Investors (FIIs).

HDFC Bank’s profit rises
HDFC Bank’s June quarter net profit jumped 20.91 percent to Rs 9,579.11 crore. The bank’s net profit on a standalone basis has increased to Rs 9,195.99 crore as against Rs 7,729.64 crore in the same quarter last year. However, it has been less than Rs 10,055.18 crore in the March quarter.

Know what is the opinion of experts?
Ajit Mishra, Vice President Research, Religare Broking said that in the absence of any major developments, we believe that the quarterly results and global indicators of the companies will remain important from the market point of view. Not only in the country, but also at the global level, there is a struggle between the bulls and the bears.

Ongoing quarterly results round
Apoorva Seth, Head, SAMCO Securities, said that there will be uncertainty in the Indian markets in the near future due to rising concerns about inflation and fears of a slowdown in the global economy. Currently, the quarterly results are going on. Market players should look at the management’s predictions for the future rather than the company’s statistics.

Business can be done in a circle
Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services, said that the market will see stock-specific movements as the quarterly earnings season picks up. Going forward, the market can be traded in a range.

Results of many more companies including Reliance will also come
The quarterly results of Hindustan Zinc, IDBI, JSW Energy, PVR and Reliance Industries are also to come during the week.

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