Between the General Budget 2023-24 and the decision on interest rates by the US Central Bank Federal Reserve, will the domestic stock market rise or will the Sensex-Nifty dive again next week? How will the share market move?
Between the General Budget 2023-24 and the decision on interest rates by the US Central Bank Federal Reserve, will the domestic stock market rise or will the Sensex-Nifty dive again next week? How will the share market move? On this, analysts say that the current quarterly results season, global market trends, domestic macroeconomic data and monthly vehicle sales figures will also influence the direction of the market.
Last week, BSE's 30-share Sensex lost 1,290.87 points or 2.12 percent. The group's shares have fallen sharply after investment research company Hindenburg Research made serious allegations against the Adani Group last week. The activities of foreign investors, who have withdrawn Rs 17,000 crore so far this month, will also decide the market trend.
Let us tell you that on the macro economic front, Purchasing Managers Index (PMI) data for manufacturing and service sectors will come on Wednesday and Friday respectively. Santosh Meena, Head of Research, Swastika Investmart Limited said, “The most important development will be the mango to be presented on February 1. Budget and US Central Bank meeting on the same day. While many companies will announce the earnings figures for the third quarter of the current financial year, the monthly sales figures of vehicles will also come during the week.'' He said, ''The market will also keep an eye on Adani Group this week. The inflow of foreign institutional investors (FPIs) will also be important for the direction of the market.
Samco Securities Opinion
Apoorva Seth, head of market perspective and research, SAMCO Securities, said, “This week will be very important due to the presentation of the general budget on February 1. The movement of the stock market is also affected by the quarterly earnings of companies. Investors around the world will be keeping an eye on the FOMC meeting.
Religare Broking Limited Estimates
Ajit Mishra, vice-president, technical research, Religare Broking Ltd, said, “This week is going to be very important not only for the financial markets but also for the economy because of the general budget. Apart from this, investors will keep an eye on the results of the US Central Bank meeting.'' He said, ''If we talk about data, everyone will also keep an eye on the monthly figures of vehicle sales, PMI data for manufacturing and service sector. Quarterly results of many major companies like Larsen & Toubro, ACC, Sun Pharma, HDFC, ITC and SBI will be released during the week.
