Analysts said in the sluggish holiday week, the domestic equity market will be impacted by the movement of corporate earnings, rupee and inflow of foreign investors. He added that volatility in the market can also take place between the fixed monthly derivatives expiry. trading Share Market Due to the long holiday on the occasion of Diwali, only three days will be allowed this week.
Santosh Meena, Head of Research, Swastika Investmart Ltd said, “We are heading towards a short festive week where the bulls have reason to celebrate Diwali on a high note as the US market witnessed a sharp jump in Friday’s trading session. “
Meena said that the market will keep an eye on the direction of global markets, dollar index, US bond yield and crude oil prices.
“On the domestic front, there may be some volatility from the end of October, while Q2 earnings will lead to stock-specific movement,” Meena said.
Ajit Mishra, VP – Research, Religare Broking Ltd said that the fixed monthly derivative expiry will keep the volatility high. In addition, earnings and performance of global markets will remain on the radar.
Investors will also keep an eye on the rupee-dollar trend, foreign institutional investors (FIIs) trading activity and Brent crude oil prices.
“On the earnings front, participants will first react to the results of major indexes such as Reliance, ICICI Bank, and Kotak Mahindra Bank. In addition, other leading names such as Tata Chemicals, Dr Reddy’s, Maruti, Vedanta and Tata Power also announce their numbers. Will do. During the week,” Mishra said.
On Friday, Indian stock markets ended the week on a high note on the back of upbeat earnings from India Inc. Both Sensex And Nifty jumped over 2%.
On October 21, the Sensex closed at 59,307.15, up 104.25 points or 0.18%, while the Nifty 50 closed at 17,576.30, up 12.35 points or 0.07%. Giants like Axis Bank, ICICI Bank, HUL and Kotak Bank were the top performers on account of their Q2 results.
On Monday, the stock exchange will hold a one-hour special Muhurta trading session, marking the beginning of a new Samvat 2079 – the Hindu calendar year that begins Diwali,
It is believed that doing business during ‘Muhurta’ or auspicious time brings prosperity and financial growth to the stakeholders.
Trading will take place across different segments such as Equity, Commodity Derivatives, Currency Derivatives, Equity Futures & Options, and Securities Lending and Borrowing (SLB) in the same time slot.
Manish Jelloka, Co-Head of Products and Solutions, Sanctum Wealth, said Indian equities outperformed global markets in Samvat 2078, and are expected to continue to outperform in Samvat 2079. However, investors need to keep in mind that the slowdown, he said, could lead to volatility in the global economy due to tight liquidity conditions, as seen in Samvat 2078.
Nilesh Shah, Group President and MD, Nilesh Shah, Group President and MD, Kotak Mahindra Asset Management Company, said.
Banks, capital goods and manufacturing are likely to outperform the market in Samvat 2079. Also, technology and pharma reforms will provide interesting opportunities on a bottom-up basis, he said.
The exchanges will remain closed on October 26 on the occasion of Diwali Balipratipada.
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