stock market A period of decline is being seen. However, on Friday it closed in the green after several days of decline. After this, there is concern in the minds of investors whether the market will continue to rise in the new week starting from Monday or the decline will return again. Market experts say that the direction of the stock markets this week will be decided by the quarterly results of companies, global trends and activities of foreign investors. There may be fluctuations in the market during the week. Pravesh Gaur, senior technical analyst at Swastika Investmart Ltd., said that everyone will keep an eye on the second quarter results of the companies. Apart from this, there is a possibility of geopolitical risk increasing due to increasing tension between Israel and Iran, due to which the prices of crude oil may rise and there may be fluctuations in the market.
Foreign investors are continuously selling
Foreign institutional investors (FIIs) have so far played a major role in the performance of the Indian market. Their stance will depend on global economic conditions and domestic political developments.” HDFC Bank’s consolidated net profit for the September quarter stood at Rs 17,825.91 crore, a growth of six percent. The bank’s quarterly results came on Saturday. Net profit of the largest private sector bank on a standalone basis rose to Rs 16,820.97 crore in the September quarter, compared to Rs 15,976.11 crore in the same period a year ago. Ajit Mishra, senior vice-president, Religare Broking Ltd, said, “In the absence of any leading indicators, market participants will keep an eye on the quarterly results of companies. First of all they will react to the results of big banks like HDFC Bank and Kotak Bank.
Will keep an eye on the results of these companies
He told that after this, companies like ITC, Hindustan Unilever, Bharat Petroleum Corporation Ltd. (BPCL), Hindustan Petroleum Corporation Ltd. (HPCL) and UltraTech Cement will also announce their quarterly results. Apart from this, quarterly results of Bajaj Housing Finance, Adani Green Energy, Bajaj Finance, One97 Communications, Zomato, Bajaj Finserv and Bank of Baroda will also come during the week. Kotak Mahindra Bank’s September quarter profit has increased by 13 percent. The bank had announced its results on Saturday. The consolidated profit of the bank in the September quarter was Rs 5,044 crore. On a standalone basis, the bank’s net profit during the quarter increased by five percent to Rs 3,344 crore. “Investors are remaining cautious due to geopolitical uncertainty, slowdown in the Chinese economy and continued FII withdrawal from domestic markets,” said Prashant Tapse, senior vice president (research), Mehta Equities Ltd.
Domestic market declined due to withdrawal
Last week, the domestic market fell due to huge withdrawal of foreign funds. Last week, the 30-share BSE Sensex fell 156.61 points or 0.19 percent. At the same time, Nifty of National Stock Exchange fell by 110.2 points or 0.44 percent. VK Vijayakumar, chief investment strategist, Geojit Financial Services, said, “The trend of selling by FIIs and buying by DIIs (domestic institutional investors) is likely to continue in the near future. The reason for selling by foreign institutional investors is high valuations in India and cheap valuations of Chinese stocks.
