Experts told how the market will move next week, know whether the stock market will rise or fall Experts told how the market will move next week, know whether the stock market will rise

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Sensex- India TV Paisa
Photo:FILE

Sensex

Highlights

  • Sensex fell by 2,185.85 points or 3.57 per cent last week
  • NSE Nifty fell last week, down 638.60 points or 3.49 percent
  • Foreign investors continue to withdraw money from the Indian stock market

New Delhi. The movement of the stock markets this week will be decided by global trends, quarterly results of companies and the attitude of foreign institutional investors (FIIs). Analysts have said this. At the same time, analysts said that the week under review will remain volatile due to settlement of monthly derivatives deals. Stock markets will remain closed on Wednesday on the occasion of Republic Day. Amol Athawale of Kotak Securities says that Nifty has formed a long bearish bar reversal candle on the weekly chart, which indicates further weakness in the market in the short term. Now support is visible for Nifty at 17500.

Look at the good results of Reliance and ICICI

Ajit Mishra, Vice President (Research) Religare Broking said, “This week is short due to holiday, and is going to be important in terms of events and statistics. The market will be the first to react to the results of the two big companies – Reliance Industries and ICICI Bank. Mishra said that at present, the uncertainty about the level of rate hike by the US Federal Reserve has created fear in the markets across the world and traders are awaiting the outcome of the FOMC (Federal Open Market Committee) meeting scheduled for January 26. Overall, the settlement of derivatives deals for the month of January will lead to caution among traders, he added.

The effect of budget expectations will also be visible

He said that before the budget, the effect of hope can also be seen in the market in some special areas. Apart from this, the market will also watch the quarterly results of some big companies like Axis Bank, Kotak Mahindra Bank, Maruti, Cipla, Vedanta and Larsen & Toubro. The market declined last week on weak global sentiments. The Sensex lost 2,185.85 points or 3.57 per cent last week, while the Nifty lost 638.60 points or 3.49 per cent. S Ranganathan, head (research) LKP Securities said the index saw a fall of 4 per cent last week due to profit-booking by FPIs. Siddharth Khemka, Head (Retail Research) Motilal Oswal Financial Services Limited said that the results of Reliance Industries and ICICI Bank, which came at the end of the week, will give direction to the market on Monday. Federal Bank, BHEL, Canara Bank and PNB are also scheduled to announce their quarterly results this week.

Reliance retains first place in top 10

The market capitalization (market cap) of the top 10 Sensex companies collectively declined by Rs 2.53 lakh crore last week. Meanwhile, the local markets were also under heavy selling pressure amid a sharp fall in the global markets. The 30-share BSE Sensex fell nearly four per cent on a weekly basis as foreign portfolio investors (FPIs) cut profits in stocks of large companies and select mid-sized companies. Reliance Industries retained the first position in the list of top 10 companies. It was followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, HDFC, SBI, Bajaj Finance and Bharti Airtel respectively.

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