Stock Market Update: This week also there can be a lot of volatility in the stock market. This week the direction of the market will be decided by RBI’s monetary policy and quarterly results of some big companies. Market experts have expressed this opinion. Apart from this, market investors will also keep an eye on the volatility of the rupee, the price of Brent crude oil and the attitude of foreign institutional investors.
IIP data will come on February 11
Ajit Mishra, Vice President Research, Religare Broking said, “Amidst important developments, market participants will be watching the policy review meeting of the Monetary Policy Committee (MPC) this week. The results of its meeting will come on February 9. Apart from this, industrial production (IIP) figures are to come on 11 February on the macroeconomic front.
Quarterly results of these companies will come
Mishra said, “Quarterly results of many big companies including Bharti Airtel, Jindal Steel, ACC, Hero MotoCorp, Tata Power, Hindalco and Mahindra & Mahindra are also to come during the week.” The downside is being seen, which is in line with the global trends. This may continue in the near future as well.
The results of these companies
TVS Motor Company, Union Bank of India, IRCTC, NMDC and SAIL will also announce their quarterly results during the week.
third quarter results
Santosh Meena, Head of Research, Swastika Investmart said, “Domestic indicators will guide the market this week. All eyes will be on the results of the Reserve Bank’s monetary review meeting on February 9. Apart from this, the third quarter results of the companies will be important from the market point of view. IIP will be announced on Friday. However, this figure will be released after the market closes.
FIIs are selling
Meena further said that global indicators are also not clear. The geopolitical situation is important, while the rise in crude oil prices is a major concern for us. He said that FIIs are still in a selling mood. Their stance will also play an important role in giving direction to the market. Market experts said that in the early days of last week, the market rally was in line with expectations. Last week, the 30-share BSE Sensex rose 1,444.59 points, or 2.52 per cent.
Waiting for the results of the meeting
Vinod Nair, Head of Research, Geojit Financial Services, said, “The RBI policy meeting this week is an important development for domestic investors. Everyone will be waiting for the outcome of this meeting.
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