Global trends, crude oil prices, Q2 earnings to drive mkts in holiday-shortened week- Analysts
时间:2024-09-29 04:21:35 阅读(143)
Domestic equity markets will be driven mainly by quarterly earnings, global trends, and the movement in crude oil prices in this holiday-shortened week, analysts said. Investors would also keep an eye on the Middle East amid the ongoing Hamas-Israel conflict and the trading activity of foreign investors. Markets will remain closed on Tuesday for Dussehra. “Global markets are currently fragile due to heightened attention on the rising US bond yield, global economic uncertainty, and also the geopolitical situation. These factors will be closely monitored, as they have the potential to influence market sentiment.
“Market participants will be closely watching the movement of the rupee against the dollar and crude oil prices, as well as investments by foreign institutional investors (FIIs) and domestic institutional investors (DIIs), during the results season,” Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, said. Markets may face volatile trends amid monthly derivatives expiry on Thursday. This week is a holiday-shortened one and we expect volatility to remain high due to the prevailing earnings season and scheduled expiry of October month derivatives contracts, Ajit Mishra, SVP – Technical Research at Religare Broking Ltd, said.
Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities Ltd, said markets worldwide, including India, will respond to geopolitical challenges, oil prices, and bond yield fluctuations, with continued stock-specific action tied to quarterly results. “We expect earnings season to pick up pace in a truncated week which would direct the market trend along with global cues. On the global front, ECB (European Central Bank) will announce interest rate decision this week,” Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd, said.
Among the key results, Axis Bank, Tech Mahindra, Maruti Suzuki and Bajaj Finserv will announce financial numbers for the September quarter, he added. Canara Bank, Asian Paints, PNB, BPCL and Reliance Industries will also announce their quarterly earnings during the week. Last week, the BSE benchmark plunged 885.12 points or 1.33 per cent and the Nifty declined 208.4 points or 1.05 per cent.
猜你喜欢
- Accenture- Revenue rises 15% in fourth quarter
- Global Markets- Shares and pound splutter as UK dishes out budget gruel
- Adani share sell-off to have limited impact on markets
- Volkswagen to unveil ChatGPT-based IDA voice assistant in its vehicle at CES 2024
- 5 Chinese state-owned companies to delist from NYSE amid US tensions
- Accenture- Cautious outlook for FY24; clients focusing on cost reduction, limited discretionary demand
- Global Markets- World stocks turn positive in May on Fed bets
- 5 technical stocks to buy- Nifty may hit 15500, Sensex seen at 53,000 in next 3-6 months
- What should retail investors do in equity markets that give disappointing returns-