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Last week may have been good for the domestic stock market, but it was not good for the Bharatiya Janata Party (BJP) running the government at the Centre. During the last week, the results of the assembly elections in the major southern state of Karnataka (Karnataka Election Results) came out and the BJP, which is in power at the center as well as in the state, suffered a crushing defeat. After the result, there will be trading in the market for the first time on Monday. At the same time, there are many other big factors during this week, which can have an effect on the movement of the market.
This will be the effect of Karnataka
It is generally seen that the stock market is sensitive to political changes. Last week, the results of Karnataka state elections came out. Karnataka is an important Indian state in terms of business and a new government is going to be formed there. The BJP has been voted out of power in the state and the main opposition Congress has got a clear majority. Usually, such results show a negative impact on the market, but market analysts say that it will hardly affect the market on Monday, because the results are in line with the exit polls and the market has already digested this estimate.
The market will react on these figures
Talking about the last week, the BSE’s 30-share Sensex climbed 973.61 points i.e. 1.59 percent and crossed the 62 thousand mark. At the same time, the NSE Nifty closed near 18,315 points. During the last week, apart from the Karnataka election results, some big economic figures were also released. The growth rate of industrial production (IIP) stood at 1.1 per cent in March, which is the lowest in 5 months. On the other hand, the rate of retail inflation (CPI) came down to 4.7 per cent in April, which is the lowest in the last 18 months. These figures were released on Friday, due to which their true effect will be seen only on Monday.
These companies will release the results
Quarterly results of many big companies are going to come during this business week starting from Monday i.e. 15th May. These companies include names like Bank of Baroda, Bharti Airtel, State Bank of India, ITC, Indian Oil Corporation, JSW Steel, GAIL, NTPC, ITC, Powergrid Corporation. How is the performance of these companies during the March quarter, its direct impact can be seen on the market.
FPI’s stance is in favor of the market
The attitude of foreign portfolio investors (FPIs) on the market can also be affected. According to the depository data, FPIs have made a net investment of Rs 23,152 crore in the Indian stock market during May 2 to May 12. Earlier in April, he had infused Rs 11,630 crore in shares and in March Rs 7,936 crore. In this way, the trend of FPI remains positive, which will prove to be helpful for the market.
read this also: These 10 stocks are going to earn this week, big names like Tata and HDFC included
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