Categories: Business

covid 19 and global cues to drive stock market this week

Photo: GOOGLE

stock market next week

new Delhi. The direction of domestic stock markets will be determined this week by activities related to Kovid-19, expiry of F&O contracts in August and signals related to foreign economies. In the past week, the domestic market had seen a boom due to better foreign signals amid rising cases of corona virus. Experts are also considering foreign signals as important this week, though market fluctuations are also expected due to expiry of F&O contracts.

Ajit Mishra, vice-president (research), Religare Broking Ltd, said, "Investors will be looking at the status of Kovid-19. In the meantime, we believe that the market may remain volatile due to buy and sell to fulfill the F&O contracts for the month of August. ”Siddharth Khemka, head of retail research, Motilal Oswal Financial Services, said that the corona virus cases Apart from this, investors will also keep an eye on global recovery and US-China tension. He said that the market may be bullish in the near future. However, there is a possibility of profit booking in view of the recent rise, in addition to the global crude oil prices, rupee performance against the dollar and foreign capital inflows will also be looked at by investors.

Vinod Nair, head of research at Geojit Financial Services, said that Indian markets are seeing a strong synergy with global markets. He said that the market globally is growing on the basis of expectations and cash. Expectations of a boom in economic activity and normalization of income will also have to be seen in reality or at least its signal needs to be clear, only then will the market be able to maintain the current uptrend. Shivani Sarkar Kurian, fund manager and head of equities research at Kotak Mahindra Asset Management Company, said, "With the pace of improvement in economic indicators, the vaccine for Kovid-19 or related activities will determine the direction of the market."

This post was published on August 23, 2020 7:40 pm

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