Last week, the BSE benchmark jumped 1,384.96 factors or 1.95 per cent, and the Nifty climbed 501.2 factors or 2.34 per cent.
The buying and selling exercise of overseas buyers and the motion of world oil benchmark Brent crude would additionally dictate developments in equities.
Stock markets can be pushed by quarterly earnings by index majors, world developments and the RBI’s rate of interest resolution this week after digesting information on finances proposals and US Federal coverage consequence, say analysts.
The buying and selling exercise of overseas buyers and the motion of world oil benchmark Brent crude would additionally dictate developments in equities.
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“On the domestic front, the MPC (Monetary Policy Committee) meeting is scheduled from February 6-8. The Q3 quarterly results season will continue to remain in focus. Bharti Airtel, Power Grid, Nestle, Lupin and Tata Power will announce their results this week,” stated Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Market members can be keeping track of the motion of the rupee in opposition to the greenback and crude oil costs, Gour stated.
Investments by Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) can even be monitored, he added.
“With the US Fed and interim Budget now behind, all eyes will be on RBI’s policy meeting this week,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, stated.
Last week, the BSE benchmark jumped 1,384.96 factors or 1.95 per cent, and the Nifty climbed 501.2 factors or 2.34 per cent.
On Friday, the Nifty reached its lifetime peak of twenty-two,126.80.
The market focus can be on the continued Q3 FY24 earnings season, with many firms asserting their ends in the approaching days corresponding to Ashok Leyland, Bharti Airtel, Apollo Tyres, Nestle, Grasim, LIC, stated Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd.
“The market will react to major domestic and global economic data, crude oil inventories, FII/DII investment pattern, and movement of rupee against the dollar. Economic numbers will impact the market such as S&P global services PMI of countries like India, UK, US, initial jobless claims, China’s inflation numbers and India’s interest rate decision,” Nanda added.
The tone was optimistic for probably the most a part of the final week amid beneficial world cues and shopping for in choose heavyweights.
“We expect volatility to remain high this week as well and the focus will be on earnings and RBI meet for cues. On the global front, the steady uptrend in the US markets will continue to favour the bulls,” stated Ajit Mishra, SVP – Technical Research, Religare Broking Ltd.
(This story has not been edited by News18 workers and is printed from a syndicated information company feed – PTI)
