Stock Market Sentiment: The direction of local stock markets this week will be decided by the quarterly results of big companies like HDFC Bank, ICICI Bank, announcements after Donald Trump’s swearing-in as US President and the activities of foreign portfolio investors (FPIs). Analysts have expressed this opinion.
Donald Trump will be sworn in as US President for the second term on Monday. During the week, many big companies including Bharat Petroleum Corporation Limited (BPCL), HDFC Bank, Hindustan Unilever, Dr Reddy’s, UltraTech Cement, JSW Steel and ICICI Bank will announce their December quarter results.
Apart from this, the conflict between foreign institutional investors (FIIs) and domestic institutional investors (DIIs) is also increasing the complexity of the market.
Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Ltd, said, “As the quarterly results season progresses, investors’ attention is expected to focus on the upcoming Union Budget, which will outline the government’s economic and fiscal stance for the year. “Market participants will closely monitor policy measures, fiscal allocations and development initiatives.”
He said that on the global front everyone’s eyes are on Donald Trump. Trump will formally take oath as the 47th President of America on January 20. He is returning to the White House again. Experts said that global crude oil prices and movement of rupee against dollar will also be important for the direction of the market.
Siddharth Khemka, Head of Research – Wealth Management, Motilal Oswal Financial Services Limited, said, “The results for the third quarter are continuing. In such a situation, there will be ups and downs in the domestic stock market. Some stock specific activities may be seen. Investors are “Eyes will be on the companies’ quarterly results and management comments.” He said that policy announcements after Trump takes oath as President will have a huge impact on market sentiment globally.
Last week, the 30-share BSE Sensex fell by 759.58 points or 0.98 percent. At the same time, a decline of 228.3 points or 0.97 percent was recorded in the Nifty of the National Stock Exchange.
“Going forward, we expect the market to maintain a cautious stance this week due to multiple domestic and global factors. During the week, Hindustan Unilever, HDFC Bank, ICICI Bank, BPCL and Hindustan Quarterly results of big companies like petroleum are coming, on which everyone will be keeping an eye.”
Ajit Mishra said that apart from this, Donald Trump is taking oath on January 20. After assuming power, everyone will be watching for the announcement of trade tariffs and its impact on global trade.
read this also
Market cap of six out of top 10 Sensex companies decreased by Rs 1.71 lakh crore, RIL remains at number one.
