Share Market : The direction of the local stock market will be determined by quarterly results of domestic companies, developments on the US fee front and the role of foreign portfolio investors (FPIs). Experts have expressed this opinion. Experts said that apart from this, investors will also monitor the global market trends, benchmark brent crude oil prices and the rupee's move against the dollar for further signals.
Ajit Mishra, Senior Vice President (Research), Railgear Broking Limited, said, “This week, everyone's eyes will be on the quarterly consequences of big companies like HCL Technologies, Axis Bank, Hindustan Unilever and Maruti. Apart from this, investors will also keep an eye on the global tariff front developments and the impact on the world.”
On Monday, all eyes will be on the shares of the country's second largest IT company Infosys. The company's consolidated net profit declined by 11.7 percent to Rs 7,033 crore in the March quarter. Siddharth Khemka, Head of Research (Money Management) of Motilal Oswal Financial Services Limited, said, “Indian markets are expected to rise this week this week due to an assistant factors such as interest in shopping, domestic inflation decrease and better monsoon forecast of IMD.”
Meanwhile, he also said that if the tension on the American tariff front increases, there will be instability in the market. At the same time, in the last financial year, due to the results of the fourth quarter of companies, special activities are being seen in the market. HDFC Bank on Saturday announced its March quarter results. During the quarter, the bank's consolidated net profit increased by seven percent to Rs 18,835 crore. However, the bank has expressed concern about the prices of housing and corporate loans, which are affecting its debt development.
ICICI Bank said on Saturday that its consolidated net profit increased by 15.7 percent to Rs 13,502 crore in the March quarter. Last week, when the business slowed down due to holidays, the 30 -share BSE Sensex rose 3,395.94 points or 4.51 percent, while the National Stock Exchange's Nifty increased by 1,023.1 points or 4.48 percent.
VK Vijaykumar, the main investment strategist of Geojit Investments Limited, said that there has been a clear change in FII activities in the last three business days ended on 17 April. In three business sessions, FII has bought shares worth Rs 14,670 crore in the cash market. He said that this change has come to the role of FII because the dollar index has come below 100 and the American currency is likely to be weaker.
