Experts believe that big developments like budget and monetary review of Reserve Bank have been passed. In such a situation, the perception of investors will again decide the basic factors. Last week, the BSE 30-share Sensex has gained about 9.6 percent. Due to good budget and quarterly results of companies, market outlook has been positive in the long term.
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Correction can come in the market
However, analysts believe that there may be some ‘correction’ in the market this week after a strong surge last week. Vinod Nair, head of research, Geojit Financial Services, said, “In the absence of any major developments, the stock may witness special activities due to the quarterly results of the companies this week.”
Quarterly results of these companies will come
Quarterly results of BPCL, NMDC, Dhanalakshmi Bank, Tata Steel, Bank of India, GAIL, HCL Infosystems and Ashok Leyland will come during the week.
Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services, said, “We believe this trend of the market will continue in the future. The direction of the market will be determined by fundamental factors like financial results of companies. Strong future projections of companies with the budget confirm the positive market structure in the long run.
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IIP figures will come
Industrial production (IIP) and inflation figures are due on Friday during the week. The 30-share BSE Sensex gained 4,445.86 points or 9.60 percent in the previous week. For some time on Friday, the Sensex has crossed the 51,000 mark level. Nirali Shah, head of equity research at Samco Securities, said, “The market may remain at the same level for some time between the coming quarterly results.”