Share Market After Long Break: The major stock markets of the country will open on Monday after a long break of four days. For the first time in the year 2022, the stock market was closed for four consecutive days due to Ambedkar Jayanti, Good Friday and Saturday-Sunday holiday. In such a situation, the big question is that how will the stock market move this week?
The move will be decided by the quarterly results of the companies
The direction of the stock market this week will be decided by the quarterly results of the companies and the global trend. Experts say that apart from this, Russia-Ukraine war and the situation of Kovid-19 in China will also decide the further trend of the market. Yesha Shah, Head of Equity Research, Samco Securities, said, “With no major developments on the domestic and global front, the direction of the market this week will be determined by the ‘earnings’ of the companies. Share special activities can be seen in the market.
Inflation figures to be released today
Inflation data based on the Wholesale Price Index for March will come on Monday. Ajit Mishra, Vice President – Research, Religare Broking Ltd. said, “The market will react on Monday on the quarterly results of two major companies Infosys and HDFC Bank.” India’s second largest software company Infosys reported a 12 per cent year-on-year growth in consolidated net profit at Rs 5,686 crore for the March quarter. The company’s result came last week. The company has projected 13-15 percent growth in its business in 2022-23.
Results of many companies will come this week
Country’s largest private sector lender HDFC Bank reported a single net profit of 22.8 per cent at Rs 10,055.2 crore for the quarter ended March 2022. The company’s quarterly results came on Saturday. This week the ‘earnings’ figures of Mindtree, ACC, HCL Technologies, Nestle and Hindustan Zinc will come.
Sensex was broken more than 1100 points last week
Vinod Nair, Head of Research, Geojit Financial Services, said, “With the onset of the income season, the domestic market may witness sector-specific activity in the coming days.” Last week, the BSE 30-share Sensex lost 1,108.25 points, while the Nifty was down 308.70 points. Analysts said the market will also keep an eye on FDI, rupee and crude oil volatility.