![The focus this week will continue to be on earnings season along with global signals. (Representative image) The focus this week will continue to be on earnings season along with global signals. (Representative image)](https://images.news18.com/ibnlive/uploads/2021/07/1627283897_news18_logo-1200x800.jpg?impolicy=website&width=510&height=383)
The focus this week will continue to be on earnings season along with global signals. (Representative image)
Moreover, the trend in Brent crude oil and the movement of the rupee against the dollar will also be important factors.
Analysts pointed out that the Iran-Israel conflict, quarterly earnings and trading activity by foreign investors are the main concerns that will determine the direction of the stock market this week.
Additionally, the trajectory of Brent crude oil and the movement of the rupee against the dollar will also play a pivotal role.
Pravesh Gour, senior technical analyst at Swastika Investmart Ltd., said this week will be a very important one for the markets amid ongoing concerns about the conflict between Iran and Israel.
“If tensions escalate significantly, there is a risk of panic selling and increased volatility across global equity markets. Additionally, the market will keep a close eye on crude oil price movements as geopolitical events often influence it.
Key results of the week
“Investors will also watch for significant earnings from Tech Mahindra, Bajaj Finance, Nestle, Bajaj Finserv, HCL Technologies and Maruti,” Gour said.
Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services Ltd., said the focus this week will continue to be on the earnings season along with the global situation.
“Index heavyweights like Hindustan Unilever, Maruti and Bajaj Finance will announce their results. Investors will also track economic data points such as US manufacturing and services PMI data, US first quarter GDP figures and Japan's policy statements,” Khemka said.
HDFC Bank on Saturday reported a 2.11 per cent rise in its consolidated net profit at Rs 17,622.38 crore for the March 2024 quarter compared to Rs 17,257.87 crore in the previous December quarter.
global impact
He added that among global events, the Bank of Japan will announce its interest rate decision on April 26, 2024.
Gur added, “The movements of US bond yields and the dollar index will be important factors affecting market sentiment.”
Religare Broking Ltd. Ajit Mishra, SVP, Research, said the market edged lower amid excessive volatility, falling more than 1.5%, tracking weak global signals.
“We expect volatility to remain high this week, citing weak global signals and the ongoing earnings season,” he added.
Last week, the BSE benchmark was down 1,156.57 points or 1.55 per cent while the Nifty was down 372.4 points or 1.65 per cent.
(including PTI input)