Analysts plan to monitor global developments throughout the week with fewer holidays

Analysts plan to monitor global developments throughout the week with fewer holidays.

Analysts plan to monitor global developments throughout the week with fewer holidays : The stock market will be guided by geopolitical events, macroeconomic data, and business quarterly profits in the upcoming week, which will be shortened by holidays, according to analysts.

In observance of Ram Navami on Wednesday, the stock exchanges will be closed.

“The market is likely to face significant challenges this week as new concerns about a possible clash between Iran and Israel surface. Any appreciable increase in hostilities might lead to panic selling and instability in the world’s stock markets. According to Santosh Meena, Head of Research at Swastika Investment Ltd., “the market will additionally be paying close attention to the fluctuation of crude oil prices, which are frequently affected by geopolitical events.”

Later in the week, he said, investors will be keeping an eye out for the earnings reports from Infosys, Bajaj Auto, and Wipro.

Meena stated that macroeconomic elements that would impact market mood include changes in US bond yields, the dollar index, China’s GDP data, and US retail sales statistics.

On Monday, attention will continue to be on TCS shares. The business released its quarterly results for January through March on Friday.

The leading provider of IT services saw a 9% increase in net profit in the fourth quarter of FY24, reaching Rs 12,434 crore, thanks to robust domestic sales, despite challenges in the company’s important international markets.

The Tata Group company’s net profit increased by 9% to Rs 45,908 crore over the course of the fiscal year, while revenue increased to Rs 2,40,893 crore from Rs 2,25,458 crore the previous year.

According to Arvinder Singh Nanda, Senior Vice President of Master Capital Services Ltd., “the major global and domestic economic data, India’s WPI inflation and manufacturing data, China GDP growth rate, US manufacturing production, and US initial jobless claims will guide the outlook for the market.”

According to official data issued on Friday, retail inflation inched closer to the Reserve Bank’s objective of 4% in March, falling to a five-month low of 4.85% primarily as a result of declining food costs.

According to official data issued on Friday, the mining sector’s strong performance in February 2024 caused India’s industrial production growth to pick up speed and reach a four-month high of 5.7%.

Senior VP (Research) Prashanth Tapse of Mehta shares Ltd stated that although the Indian economy is doing well, the recent barrage of bad news, particularly from the international scene, could occasionally stop the rising trend of Indian shares.

Due to Eid-Ul-Fitr, stock markets were closed on Thursday.

Following a record-breaking rise, the BSE benchmark Sensex slightly declined by 3.32 points last week. On Wednesday, the benchmark had reached its highest point of 75,038.15. On Tuesday, it had hit an all-time high of 75,124.28.