Categories: Business

Market movement to hinge on corporate earnings, COVID-19 trend says Analysts

Photo: GOOGLE

stock market next week

new Delhi. The direction of the stock markets will be decided this week by the quarterly results of companies, the trend of corona virus cases and geopolitical developments. Market experts say that apart from this, market participants will also keep an eye on the progress of monsoon. It is believed that the agriculture sector will play an important role in reviving the economy affected by the corona virus.

Ajit Mishra, vice-president (research), Religare Broking, said, "As there are no major developments, the market direction this week will be determined by the current quarterly results season and global indicators." Apart from this, everyone will also be watching the progress of monsoon. "There is uncertainty about the economic recovery due to increasing cases of corona virus infection and geopolitical tensions globally.

In India, Kovid-19 infection figures are nearing 11 lakhs. Now India has moved to the third place after the United States and Brazil in cases of infection. Now about 27,000 people have died due to this epidemic in the country. In such a situation, market participants are expected to take caution. Globally, cases of Kovid-19 infection have crossed 14 million. Till now, six lakh people have lost their lives due to this epidemic. Analysts said that the market will also keep an eye on trade and political developments in the US and China.

Siddharth Khemka, head of retail research, Motilal Oswal Financial Services, said, "As the quarterly results are in season, the stock will see special activity. While the outlook for the near future is positive, we would advise investors to be cautious because of the US-China trade relationship, the continued rise in virus cases and the resumption of lockdown in some parts of the country. "

Everyone will be watching HDFC Bank's stock on Monday. The bank's net profit in the first quarter of the current financial year increased by 19.6 percent to Rs 6,658.62 crore. The bank's income has also increased to Rs 34,453.28 crore. Quarterly results of big companies such as Axis Bank, Bajaj Finance, Hindustan Unilever Ltd., Bajaj Auto and ITC are to come this week.

This post was published on July 19, 2020 7:55 pm

Content Team

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