Categories: Business

Results economic data to drive stock market this week

Photo: GOOGLE

Stock market next week

new Delhi. The direction of the stock markets will be determined by the quarterly results and economic data of big companies such as Wipro and Infosys this week. Market watchers say the market's focus will be on management's observations about the timing of the companies' performance over the past quarter, which will show how much the Kovid-19 epidemic has affected various sectors.

Ajit Mishra, vice-president (research), Religare Broking, said: "This week, market investors will first respond to the economic data. After that, everyone's attention will be towards quarterly results. Needless to say that foreign signals and details related to Kovid-19 will also affect the direction of the market. "Siddharth Khemka, head of retail research, Motilal Oswal Financial Services said," June quarter results have started coming. . These are quite important, as the effect of lockdown has been highest during this period. In such a situation, management's observations will be important and this will keep the market volatile in the near future. "Vinod Nair, head of research, Geojit Financial Services, said," The market outlook is volatile, as the quarterly results are mostly in the season. Business has started after the industry has come to a complete standstill. "Nair said," Market volatility will continue due to uncertainty and profit booking after the recent rally. Investors will need to be cautious in such a market. "

This week many major companies will release their financial results for the first quarter, which will be looked at by investors and will determine the direction of the market. Several companies, including Wipro, Infosys, HCL, L&T Infotech, Britannia Industries, Federal Bank, Bandhan Bank, will release their business financial results for the first quarter of the current financial year 2020-21 this week.

The retail inflation data will be released on Monday at the beginning of the week, and the day after that, the wholesale inflation data will be released on Tuesday. At the same time, the balance of trade figures will also come on Wednesday.

At the same time, the major economic data released this week abroad will also have an impact on the market. The European Union's industrial production data for May will be released on Tuesday. After this, the Bank of Japan can announce its decision on the interest rate on Wednesday. At the same time, the figures for industrial production in China will be released on Thursday on Thursday.

This post was published on July 12, 2020 4:51 pm

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