Dalal Street: Last week, the BSE Sensex rose 1315.5 points or 1.72 per cent. At the same time, NSE Nifty rose by 389.95 points or 1.68 per cent. Now this week, the stock market will be fixed with the decision of the Reserve Bank of India (RBI) at the interest rate, the quarterly income of companies and global trends. Analysts estimated that the impact of the general budget may continue this week as well. He said that business activities of foreign investors will also affect the stock markets. Let us know that due to the presence of the general budget, the stock markets were open on Saturday.
These companies will have quarterly results
This week, Asian Paints, PC Jeweler, Tata Power, Titan, Apollo Tires, Bharti Airtel, ITC, SBI, LIC, M&M and NHPC will have quarterly results.
The market move will be decided by these factors next week
Siddharth Khemka, research head of Motilal Oswal Financial Services Limited, said, “Manufacturing PMI of the US and India for January will be released on Monday, which is an important macro data. Investors will study budget documents closely and the focus of the market will also be on the earnings of companies. Apart from this, the monetary policy of RBI to be announced on Friday will also be monitored. ”
Experts’ opinion
Prashant Tapse, Senior Vice Procession (Research) of Mehta Equality Limited, said, “The question is whether the RBI will soften its stand and this week’s monetary policy will be cut in interest rates?” However, investors also need to monitor global events, as the increase in sales of American bond yield and FII can weaken the market sentiment. ” He said that investors will also keep an eye on PMI data for manufacturing and services.
5 new IPO next week
In the first week of February, there will be less movement in the primary market. 5 new IPOs are going to open in the week starting from 3 February and all are from SME segment. This list includes Chamunda Electricals, Ken Enterprises, Amwill Healthcare, ReadyMix Construction and Eleganz Interiors. There is no new public issue in the mainboard segment. Also there is no IPO already running. As far as new listings are concerned, only 2 companies are going to make their start in the stock market in the new starting week.
“The impact of the budget will be understood in a day or two”
Angel One’s analyst Osho Krishnan said, “This week, there are many important incidents including policy review results, Delhi assembly elections and activities related to American tariff hike. They may cause some instability. ” Krishnan further said that the budget has arrived, but the FII participation on Saturday was very low, so his actual response is expected to come on Monday. One or two days need to be stopped to understand the impact of the budget on the market.
“Budget according to expectations”
Managing Director (MD) of Axis Securities and Chief Executive Officer (CEO) Pranab Haridasana said, “The general budget has lived up to our expectations to a large extent. It was specially given very important income tax relief for the middle class, which will promote consumption and economic growth. According to estimates, there was no change in Securities Transaction Tax or Capital Gain Tax. ”
Experts’ opinion on technicals
According to Nagraj Shetty of HDFC Securities, the fundamental trend of Nifty remains positive, but the market is facing stringent resistance at 23500-23600 levels. If the Nifty crosses this level decisively, it can move towards 24000 in the near future. At the same time, Imidiet Support is present at the level of 23300.
LKP Securities’s metaphor Dey said that Nifty was seen fluctuating during the budget session. A small body candle is made on the daily chart, which shows uncertainty. The Nifty has support at the level of 23280, and as long as it remains above it, the trend can remain positive. Nifty at the upper level can go up to 23,700–24,000. However, if it falls below 23,280, the market may increase nervousness.
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