The 30-share BSE Sensex climbed 282.88 factors, or 0.44 per cent, to settle at 64,363.78 on Friday. (Representative picture)
Last week, the BSE benchmark jumped 580.98 factors, or 0.91 per cent, whereas the Nifty climbed 183.35 factors, or 0.96 per cent.
The ongoing quarterly earnings report card of corporates, international tendencies and buying and selling exercise of international traders are key elements to drive the momentum within the fairness markets this week, analysts stated.
Moreover, markets would additionally deal with international oil benchmark Brent crude and the rupee-greenback pattern.
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“On the domestic front, the upcoming release of Q2 earnings report is expected to have a significant influence on market sentiment. If FIIs (Foreign Institutional Investors) shift to net buying, it could further propel the market’s upward movement,” Swastika Investmart Ltd Head of Research Santosh Meena stated.
While geopolitical issues persist, they’ve had restricted impression available on the market’s total trajectory, Meena stated, including that the resilience of worldwide markets will probably be essential in figuring out the sustainability of this optimistic momentum.
From the macroeconomic entrance, the economic manufacturing knowledge is scheduled to be introduced on Friday after market hours.
“Global and domestic macroeconomic events, FII, DII (Domestic Institutional Investors) investment pattern, crude oil inventories, movement of the rupee against the dollar, US bond yield, the ongoing Israel-Hamas conflict, the ongoing Q2 earning season will dictate the trend in the market this week,” Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd, stated.
Some main firms will probably be saying their quarterly quantity within the coming days, akin to HPCL, NHPC, IRCTC, Power Grid, Tata Power, Ashok Leyland, Coal India, Hindalco, LIC, Mahindra & Mahindra, Tata Chemicals, Nanda stated.
Last week, the BSE benchmark jumped 580.98 factors, or 0.91 per cent, whereas the Nifty climbed 183.35 factors, or 0.96 per cent.
The 30-share BSE Sensex climbed 282.88 factors, or 0.44 per cent, to settle at 64,363.78 on Friday.
The Nifty went up 97.35 factors, or 0.51 per cent, to 19,230.60.
“The optimism is buoyed by firm global clues, steady macroeconomic data and strong domestic corporate earnings. Clues that Fed is unlikely to hike rates in the future and modest decline in oil prices are adding to the optimism,” Vinod Nair, Head of Research at Geojit Financial Services, stated on Friday.
(This story has not been edited by News18 employees and is printed from a syndicated information company feed – PTI)
