Market move will be decided by the results of IT company and macroeconomic data

New Delhi: The quarterly results of IT majors Infosys and Wipro, macroeconomic data and global indicators will decide the direction of the stock markets this week. Analysts have expressed this opinion. Apart from Infosys and Wipro, the quarterly results of Mindtree, Tata Alexi and HDFC AMC are to be announced this week. Apart from this, industrial production (IIP), retail and wholesale inflation data are also to come during the week.

Ajit Mishra, Vice President Research, Religare Broking said, “This week the market will be guided by quarterly results, macroeconomic data like IIP, retail inflation and wholesale inflation. Apart from this, investors will also keep an eye on news related to the progress of monsoon, new types of Kovid-19 etc. ” Mishra said that with this, investors will be watching the cases of corona virus and the spread of delta variants.

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Kotak Securities Executive Vice President (Equity Technical Research) Shrikant Chauhan said, “Going ahead, the market will be watching inflation, crude oil prices, yields on bonds and spread of delta virus.” Last week’s 30-share Sensex of BSE. It was in loss of 98.48 points or 0.18 percent.

Vinod Modi, Head of Strategy, Reliance Securities, said, “In our view, the progress of the monsoon, Q1 results and the trend of Kovid-19 will decide the direction of the market in the near future.”

Vinod Nair, head of research, Geojit Financial Services, said, “This week, apart from the first quarter results, there will also be several key economic data, which will decide the direction of the market.” Apart from this, investors are watching crude oil prices, analysts said. The volatility of the rupee against the dollar and the investment trend of foreign institutional investors will also remain the same.

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