Categories: Business

Q4 result and corona update to decide market direction this week

Stock market next week

new Delhi. According to market experts, the movement of Indian stock markets this week will be largely determined by the quarterly results of companies and Corona worldwide including India. The government extended the nationwide lockdown to 17 May on Friday. Commenting on the move, Vinod Nair, head of research at Geojit Financial Services, said that it is not a big surprise for the market as the market was already hoping that the economy would be opened slowly, which is in line with the new protocol. But the market is worried by the latest economic and corporate figures, reflecting a larger-than-expected decline in the domestic economy and corporate earnings.

Motilal Oswal head (retail research) Siddharth Khemka said that besides reviewing the central banks globally, the market will keenly monitor corona virus infection trends, oil price and currency movements. Any news related to the development of a vaccine for the prevention of Kovid-19 infection may also affect the market. He added that apart from this, the market will also monitor macroeconomic data, including PMI figures for manufacturing sector on Monday, while services sector data will come on Wednesday.

Ajit Mishra, vice-president (research), Religare Broking Ltd, said the market would first respond to Reliance's data on Monday. Reliance Industries' results came on Thursday, where net profit was the biggest quarterly decline so far. This happened due to the slowdown in the energy business. Domestic equity markets were closed on Friday due to Maharashtra Day. Results of Yes Bank and HCL Technologies Limited are due this week. Meanwhile, India's leading car companies including Maruti Suzuki and Hyundai said on Friday that their monthly domestic sales were zero for the first time in April due to the nationwide lockdown. These signs will also have an impact in Monday's business.

This post was published on May 3, 2020 6:43 pm

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