This week, the quarterly results of IT companies will decide the movement of the stock market, these figures including IIP will also be monitored.
The beginning of the year 2022 has been good for the stock market. Last week, the 30-share BSE Sensex gained 1,490.83 points or 2.55 per cent.
Market participants are expecting that the results of big IT companies will be encouraging.
From the quarterly results and macroeconomic data of several companies in the information technology sector, including Infosys and Tata Consultancy Services (TCS), this week stock exchanges ,stock market) direction will be determined. Analysts have expressed this opinion. The beginning of the new year 2022 has been very good for the stock markets. Meanwhile, market participants will keep an eye on the news related to Kovid-19 (COVID-19) on the global front as well as domestic. 30 shares of BSE last week Sensex It was in profit of 1,490.83 points or 2.55 per cent. Several IT giants such as Infosys, TCS, Wipro, HCL Tech and Mindtree will announce their quarterly results this week.
Ajit Mishra, Vice President Research, Religare Broking said, apart from many big companies in the IT sector, HDFC Bank is also expected to announce its quarterly results. Also, market participants will keep an eye on industrial production (IIP), retail inflation (CPI) and wholesale inflation (WPI) data. Overall, the market will also be affected by global indicators and news related to Kovid-19.
He said that the quarterly results of IT companies will give direction to the market. Market participants are expecting that the results of big IT companies will be encouraging. Mishra said that so far the market has ‘ignored’ the rising cases of Omicron, a new form of Kovid, but due to strict restrictions by many states, the market sentiment may be affected further.
Figures of IIP, CPI and WPI will also be released
Swastika Investmart Ltd. This week is going to be very busy for the market due to the results of IT companies, IIP, CPI and WPI data, said Santosh Meena, head of research. IIP and CPI data will come on January 12 and WPI on January 14.
Will also keep an eye on the third wave of the epidemic
Meena said that the cases of Kovid are increasing worldwide, but the number of patients admitted to the hospital and the death rate is very low, due to which the market has ignored it. However, the eyes of the market will remain on the third wave of the epidemic.
Talking about the global front, the rising prices of crude oil are a matter of concern, he said. Apart from this, China’s inflation and US retail sales data will also be important from the market point of view.
Inflation data of America and China will be monitored
Yesha Shah, Head of Equity Research, Samco Securities, said that the third quarter results are beginning with the big IT companies. On the macroeconomic front, investors’ eyes will be on the inflation data of the US and China, apart from domestic.
Vinod Nair, Head of Research, Geojit Financial Services said, “The direction of the market this week will be decided by the results of IT companies. Apart from this, many important macroeconomic data are to come during the week. During the week, inflation data for December and IIP data for November will come out. Along with this, the eyes of the investors will also be on the investment trend of foreign institutional investors and the volatility of the rupee.
(Language)
