Mumbai . After the financial results of most of the companies for the June quarter are out, the eyes of the stock market investors will now be on the global trend. In the absence of major activity in the week with fewer trading days due to holidays, mainly the global trend will guide the market. Analysts said this to the market trend. The stock market will remain closed on Thursday on the occasion of Muharram.
Nirali Shah, Head Equity, Samco Securities, said, “The Q1 financial results of most domestic companies have been better than expected. In the absence of major movements, the global trend will decide the course of the market.
WPI inflation data to be released on Monday
Swastik Investment Ltd. Head of Research, Santosh Meena said that on the domestic front, inflation data based on the Wholesale Price Index will be released on Monday. Apart from this, the market will also be watching the trend of foreign institutional investors and the dollar index.
Vinod Nair, Head of Research, Geojit Financial Services said, “Positive economic data indicates economic revival. The market is likely to remain bullish in the long run. However, a decline in the short term cannot be ruled out.
Sensex crosses 55,000 for the first time
Last week, the 30-share BSE Sensex rose 1,159.57 points, or 2.13 per cent. On Friday, the standard index crossed the 55 thousand mark for the first time and reached the highest level of 55,487.79 points.
Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services said, “The bullish trend in the stock market may continue. The reason for this is the rapid relaxation of restrictions imposed in various states for the prevention of Covid-pandemic. The financial results of most of the companies for the June quarter are out and have been better than expected.
Apart from this, the trend of rupee against dollar and the attitude of foreign institutional investors and Brent crude will also be watched by investors, he said.