Final week, the BSE benchmark climbed 596.87 or 0.81 per cent. It hit an all-time excessive of 74,501.73 on April 4.
Fairness markets will stay closed on Thursday for Eid-Ul-Fitr.
World developments, macroeconomic knowledge bulletins and the beginning of the earnings season can be the key drivers for the fairness markets in a holiday-shortened week, analysts mentioned.
Fairness markets will stay closed on Thursday for Eid-Ul-Fitr.
Buying and selling exercise of international buyers, rupee-dollar developments and crude oil costs would additionally information developments in markets.
“Indian corporations are set to enter a brand new company earnings This autumn season this week. Main the pack is IT providers big TCS, set to kick off the earnings season for the quarter ending March 2024.
“Its outcomes for the fourth quarter of FY24 will probably be introduced on April 12, 2024, after market buying and selling hours. Aside from that India’s industrial manufacturing knowledge may also be introduced on twelfth April 2024. On the identical day, inflation for March will probably be declared,” mentioned Santosh Meena, Head of Analysis, Swastika Investmart Ltd.
Traders will intently monitor the motion of the rupee in opposition to the greenback, crude oil costs, and funding actions of International Institutional Traders (FIIs) and Home Institutional Traders (DIIs), Meena added.
Final week, the BSE benchmark climbed 596.87 or 0.81 per cent. It hit an all-time excessive of 74,501.73 on April 4.
“The outlook for the market will probably be guided by main world and home financial knowledge, India’s CPI knowledge and IIP, US client inflation, US enterprise optimism index, US preliminary jobless claims and ECB (European Central Financial institution) rate of interest choice,” Arvinder Singh Nanda, Senior Vice President, of Grasp Capital Companies Ltd, mentioned.
Ajit Mishra, SVP – Technical Analysis, Religare Broking Ltd, mentioned this week marks the start of the earnings season and the main target will probably be on the IT majors to start out with.
“This week, the main target will shift to This autumn earnings season as TCS will announce its outcomes on twelfth April. Additionally, markets will take cues from world occasions like India & US inflation knowledge, and ECB coverage assembly. General we anticipate the market to consolidate in a broader vary with stock-specific motion,” Siddhartha Khemka, Head – Retail Analysis, Motilal Oswal Monetary Companies Ltd, mentioned.
(This story has not been edited by News18 employees and is printed from a syndicated information company feed – PTI)
