Share Market: TCS, Infosys’ quarterly results will come this week, the movement of the stock market will be decided by the global economy.
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Share Market This Week: The beginning of the year 2024 has been nothing special for the Indian stock market. On the first day of the year, the stock market closed with a rise of 32 points amid huge fluctuations. In the last five days, Sensex has fallen by 150.13 points whereas Nifty has seen a rise of only 10 points. However, there are many factors in the year 2024, such as Lok Sabha elections, budget etc., which will directly affect the Share Market Expected to be affected. At the same time, this week also many factors will work in the market which cannot give direction to the market. The direction of the stock markets this week will be decided by the quarterly results of information technology sector companies Tata Consultancy Services (TCS) and Infosys and the global trend. Analysts have expressed this opinion. Analysts say that apart from this, global Brent crude oil prices, rupee-dollar fluctuations and activities of foreign investors will also be important from the market point of view.
Pravesh Gaur, senior technical analyst at Swastika Investmart, said that on the domestic front, all eyes will be on the results of the third quarter of the current financial year of the companies. Market participants will also keep an eye on the movement of rupee against the dollar and crude oil prices. He said that foreign institutional investors (FIIs)FII) and domestic institutional investors (DII)’s investment trend will also be important for the market. The quarterly results of Infosys and Tata Consultancy Services will be announced on Thursday. Whereas the results of HCL Technologies and Wipro will come on Friday. Sunny Aggarwal, Head of Fundamental Equity Research, SBI Securities Limited, said that the third quarter results season will start from the second week of January. This will be a big factor in giving direction to the stock market. On the macroeconomic front, inflation data for December and industrial production (IIP) data for November will come after the market closes on Friday.
Arvinder Singh Nanda, Senior Vice President, Master Capital Services Limited, said that the market will react to domestic global macroeconomic data, global bond yields, crude oil inventories, movement of dollar index and investment activities of FIIs and DIIs. He said that America’s inflation and unemployment claims data, China’s inflation data and Britain’s Gross Domestic Product (GDP) growth rate data will also be important from the market point of view. Last week, the 30-share BSE Sensex fell 214.11 points or 0.29 percent. National Stock Exchange’s Nifty lost 20.6 points or 0.09 percent. Siddharth Khemka, head of retail research at Motilal Oswal Financial Services, said that we expect the market to take cues from the quarterly results season in the coming week, which will start with TCS and Infosys on January 11. Apart from this, quarterly results of some other companies like HCL Tech, Wipro and HDFC Life will also come during the week.
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