Categories: Business

Global cues, TCS earnings major drivers for markets this week

Photo: GOOGLE

stock market next week

new Delhi. The direction of the stock markets will be decided this week by foreign signals, Kovid-19's stance and first quarter results of big companies like Tata Consultancy Services (TCS). Market experts said that apart from this, investors will also keep an eye on the rupee fluctuations and crude oil prices. Ajit Mishra, vice-president-research, Religare Broking, said: "Market participants will keep an eye on industrial production data, developments related to Kovid-19 and monsoon progress." Will arrive on July 9. At the same time, industrial production i.e. IIP figures will come after the market is closed on Friday.

Siddharth Khemka, head of retail research, Motilal Oswal Financial Services, said the first quarter results would begin with TCS on July 9. On the previous week Friday, the domestic stock markets rose for the third consecutive day. Due to this, the Sensex closed at a four-month high. Last week, the 30-share BSE Sensex gained 850.15 points or 2.41 percent. Khemka said that last week, the economic data of various countries of the world closed with a strong stance on the better than expected and positive news about Kovid-19 vaccine. "However, concerns remain due to rising cases of corona virus, the possibility of the second round of infection and Indo-China tension," he said.

According to the Union Health Ministry, the maximum number of 22,771 cases of Kovid-19 infection has been reported in a single day. This has brought the number of infection cases in the country to 6,48,315. So far, the epidemic has killed 18,655 people. Jaimit Modi, founder and CEO (CEO) of SAMCO Securities and Stocknote, said, "The market will see a definite stance with the announcement of first quarter results by Indian companies. This will also reveal the ground reality. ”Kotak Securities Vice President PCG Research Sanjiv Zarbade said that there would be a risk to the market from developments such as increase in infection cases and rising Indo-China border tension.

This post was published on July 5, 2020 9:41 pm

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