The market prospects for next week will be guided by several national and global factors, such as the results of the fourth quarter, the minutes of the RBI monetary policy committee, the Purchasing Managers Index (PMI) and foreign institutional investors (FII), which could direct the market management and influence the feeling of investors.
Duration from April 21 to 25, Tata Investment Corporation, HCl Tech, Tata Communications, Bajaj Housing Finance, Axis Bank, Hindustan Unilever and RBL Bank will release their results Q4 Fy25.
Bajaj Broking Research said: “In India, on April 23, you will see the manufacturing PMI data and Global S&P services, providing a real -time commercial activity meter in the industrial and service sectors. Together with the Urear of the meeting.
On the global front, the same day, April 23, it will feature the PMI of S&P Global Manufacturing and Services, which reflects the health of the key sectors of the US economy. This will be followed by the initial unemployment claims report on April 24, a critical indicator for the labor market.
“In total, this heavy data week could market volatility and shape the expectations of monetary policy in the future,” added the brokerage company.
Despite the two -day holidays, the stock market increased more than 4 percent last week. NIFTY increased 1,023 points or 4.48 percent to close to 23,851 and Sensex increased 3,395 points or 4.52 percent to close to 78,553.
Banking actions led the manifestation in the market. Nifty Bank closed 54,290 with a gain or 3,287 points or 6.45 percent.
The announcement of a temporary hole on the United States rates and the perspectives of negotiations with another country also contributed to this aid concentration. In addition, the 25 BPS RBI rate was reduced on April 9, which reduced the 6 percent repo rate, along with a change in its “neutral” to “accommodative” position, added a new boost to equitable markets as investors have a price.
Around the last three commercial sessions, foreign portfolio investors have bought more than $ 1 billion in Indian shares after a prolonged sale streak.
Vishnu Kant Upadhyay, AVP – Research and Advice, Master Capital Services, said: “The market is now approaching a key resistance zone between 23,800 and 24,000. A rupture above promoting the index to 24,800”.
“Buying in decrease remains a viable strategy as long as the index remains above its key mobile averages,” he added.