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Stock Market: The direction of the local stock markets will be decided this week by the inflation rate, industrial production (IIP) data on the domestic front. Apart from this, the quarterly results of companies in the Information Technology (IT) sector will also give direction to the market. Analysts have expressed this opinion. He said that global trends, rupee movement, Brent crude oil prices and foreign funds will also be important for the market. However, the 30-share BSE Sensex lost 940.37 or 1.55 per cent last week. The National Stock Exchange’s Nifty lost 245.85 points or 1.36 per cent.
what do the experts say
Swastika Investmart Of Head of Research Santosh Meena Said, “Many important macro economic data are going to come this week. IIP and Consumer Price Index (CPI) based inflation data will come on January 12. China and US will also release their inflation data on the same day.” Meena said that the season of quarterly results will start with IT companies. TCS, Infosys and HCL Tech will announce their quarterly results during the week.
Julier Bayer India Of Executive Director Milind M Said that Indian stock markets started the new year with a cautious approach. The same trend was seen in the markets, which was in the last month of last year i.e. December. He said that the market sentiment has been affected due to inflation and continuous withdrawal of foreign funds.
Geojit Financial Services Of Head of Research Vinod Nair Said that after the release of the details of the Federal Open Market Committee (FOMC) meeting, the risk appetite of investors has been affected. This detail has indicated a further increase in interest rates in 2023. Nair said that this week IT sector companies TCS, Infosys, HCL Tech and Wipro will announce their quarterly results. At the same time, on January 12, the figures of IIP and CPI will come.
Religare Broking Limited Of Vice President Technical Research Ajit Mishra Said that apart from domestic factors, everyone will be watching the trend of the global market. Apoorva Seth, head of market outlook at Samco Securities, said that this week market participants will be watching the inflation data of US and China. “On the domestic front, the third quarter results season will start with IT companies.”
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