Stock Market Prediction Update: This week the stock market will be affected by macroeconomic data, global signals and the attitude of foreign investors. Experts said that apart from this, the market will also keep an eye on the quarterly results of major IT companies like Tata Consultancy Services (TCS) and Infosys. The impact of the global oil standard Brent crude and the movement of the rupee will also be visible on the business.
TCS results will come on October 11
Pravesh Gaur, senior technical expert of Swastik Investmart Limited, said that all eyes will be on the corporate results of the second quarter of the current financial year. TCS results will be out on October 11 and HCL Technologies and Infosys results will be out on October 12.
Affected stance of FII and DII
He has said that market participants will also keep an eye on the movement of rupee against the dollar and the prices of crude oil. The attitude of foreign institutional investors (FII) and domestic institutional investors (DII) will also affect the market.
Will come on 12th October
He said that important announcements are also to be made on the macroeconomic front in the week under review. Under this, industrial production and manufacturing output figures for August will be released on October 12.
WPI results on 13 October
Gaur said that also, the inflation rate for September will be announced, which will provide information about the economic health of the country. Apart from this, Wholesale Price Index (WPI) data for September will come on October 13.
What is the expert’s opinion?
Shrikant Chauhan, Head of Equity Research (Retail), Kotak Securities Limited, said that the market will take further cues from the upcoming quarterly results. Vinod Nair, head of research, Geojit Financial Services, said that from this week traders will keep an eye on the quarterly results of IT and banking sectors.
Input – Language Agency