Anticipation of volatility in the stock market; Will keep an eye on foreign market and quarterly results, focus on metal and realty stocks | Anticipation of volatility in the stock market; Will keep an eye on foreign market and quarterly results, focus on metal and realty stocks

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MumbaiOne hour ago

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This trading week may see volatility in the stock market. Because on the one hand the first quarter results have started, on the other hand the economic data will also be released. At the same time, talking about the last week, the stock market has disappointed the investors. Sensex closed at 52,386, down 98 points in 5 trading days.

There is weakness in the domestic stock market due to weak global sentiments and the third wave of corona including monsoon. Due to this, selling was registered in auto, IT, oil and gas and pharma stocks. On the other hand, metal, realty, telecom, capital goods and select banking stocks were buying. In the broader market, the BSE Midcap index rose by 1.37% and Smallcap by 1.2%.

Chandan Tapadia, Head of Technical & Derivatives, Motilal Oswal According to this week, if Nifty crosses 15,750 points and remains above it, then it will first move towards 15,850 points, which will also go up to 15,915 points. On the other hand, if the index falls below the level of 15,600 in selling sentiment, the Nifty can slip up to 15,500 points.

In such a situation, 5 events in a week are very important for investors…

  1. Quarterly results: The results for the first quarter (April-June) of the financial year 2021-22 have started coming in. About 75 companies are going to release their results this week. This includes Infosys, Wipro, Mindtree, HDFC Asset Management Company and Larsen & Turbo Infotech.
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  3. Economic Data: The market sentiment will also be on the economic data coming this week. Retail inflation data will be released in June on Monday. Wholesale inflation data will be released on Wednesday. Apart from this, industrial production and manufacturing data will also be released in May. Along with this, data of foreign exchange reserves including bank deposits and loan growth will also come.
  4. Zomato IPO: Food delivery company Zomato’s IPO will open in the primary market on July 14. The price band for investment in IPO has been fixed at Rs 72-76 per share. Actually, the company wants to raise Rs 9,375 crore through the issue. For this Rs 9000 crore fresh shares will be issued and Info Edge will sell shares worth about Rs 375 crore in the offer for sale.
  5. Corona and Vaccination: The second wave of corona in the country is weakening, but the rate of infection of the delta variant is increasing continuously. On Saturday, 41,463 cases of corona were reported in the country and 41,463 patients defeated the epidemic. While 898 people died. India’s recovery rate is now 97.20%.
  6. foreign investment: Foreign institutional investors sold shares worth more than Rs 2,000 crore in the last 5 trading days, taking the total number of shares sold so far in July to Rs 4,256.45 crore. At the same time, domestic institutional investors have bought shares worth Rs 1,903.45 crore.

According to Motilal Oswal, this week the market can keep an eye on metal stocks. In such a situation, the focus will be on the stocks of Tata Steel and Hindalco. Also, shares of Realty and Diagnostic Labs can be bought.

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