The stock market is poised for a crucial week as key events could determine its direction. Last week, the 30-share BSE Sensex gained 623.36 points, despite a 1% decline on Friday due to Infosys’ revenue guidance cut and HUL’s weak results. The market sustained momentum for the fourth consecutive week.
Domestic Economic Data Points
The upcoming week’s focus will be on the quarterly results of significant companies. Around 380 companies, including Larsen & Toubro, Tata Motors, Tata Steel, Axis Bank, and others, will release their numbers. This data will play a pivotal role in shaping market sentiment.
Market participants will also closely monitor the US Federal Reserve’s interest rate decision on July 26. An anticipated 25% increase in interest rates could impact market dynamics. Additionally, the Bank of Japan’s policy decision on July 28 will be significant.
Global economic data points
Global factors like Foreign Institutional Investors (FII) inflows will continue to influence the market. While FIIs infused over Rs 3,100 crore last week, domestic institutional investors booked profits selling shares worth about Rs 800 crore.
Oil prices will also be crucial as India is a net oil importer. The price of Brent crude oil reached $81 per barrel, affecting India’s economy. Additionally, the movement of the rupee against the dollar will also impact the market.
Domestic economic data points, including foreign exchange reserves, infrastructure output, and bank credit growth, will be released on July 28, providing further insight into the market’s health.
Moreover, corporate actions such as new IPO listings, including Yatharth Hospital & Trauma Care Services, Netweb Technologies India, and others, will add to the week’s dynamics.
Investors need to remain vigilant and make well-informed decisions as these critical events will shape the stock market’s performance in the coming week.
