Mumbai.
This week, the direction of domestic stock markets will be decided by the quarterly results of companies, inflation data and activities of foreign investors. Market analysts have expressed this opinion. December quarter results of big companies like Infosys, Reliance Industries are going to come this week. Apart from this, investors will also keep an eye on the prices of crude oil and the movement of rupee against the dollar. Last week, investor sentiment was affected by the strengthening of the US dollar and rising bond yields in the US.
According to market analysts, this week will be full of ups and downs for the Indian stock markets. Investors are eagerly waiting for the third quarter results of big companies. He said that this week big companies like Infosys, Reliance Industries, HCL Technologies, HDFC AMC, HDFC Life Insurance Company and Axis Bank will announce their December quarter results.
The struggle continues between foreign institutional investors (FIIs) and domestic institutional investors (DIIs) in the local market. Another market analyst said that Consumer Price Index (CPI) based inflation data will come on Monday, which is very important for the market. Wholesale Price Index (WPI) based inflation data will be released on Tuesday.
Analysts said that the sharp decline in the market has happened due to many reasons. This includes factors like withdrawal of foreign funds, weaker than expected third quarter results of companies, continuous fall of rupee against the dollar and increasing yield on 10-year bonds in America. Apart from this, the strength in the dollar index and the sharp rise in crude oil prices have increased concerns about inflation, which has further affected investor sentiment.
According to official data released on Friday, the growth rate of industrial production (IIP) in November 2024 increased to a six-month high of 5.2 percent on an annual basis. Going forward, everyone’s eyes will be on the third quarter results of the companies. During the week, December quarter results of IT sector giants and others are coming. Besides, macroeconomic data like inflation will also play an important role in giving direction to the market. On the global front, the US economy, especially labor market data and inflation trend may impact the inflows of foreign institutional investors (FIIs).
