Stock Market News Updates: On the domestic front, macroeconomic data, global trends and foreign investor activities will determine the direction of domestic stock markets this week. Analysts have expressed this opinion. Analysts say the market may see volatility this week due to higher valuations after last week’s record high. Investors will also be watching global oil benchmark Brent crude oil prices and rupee-dollar moves for further cues.
The company this week on record date, 1 share at Rs. 130 as dividend
What do the experts say?
Pravesh Gaur, senior technical analyst at Swastik Investsmart said, “This week will see potential volatility in the stock market. High valuations are a concern. Investors will now monitor the progress of the monsoon and its impact on the rural economy. All eyes are also on the general budget coming in July. Activities of foreign and domestic institutional investors (FIIs and DIIs) and crude oil prices will also influence market sentiment, he said.
He said that on the global front, the American market has seen higher levels of profit booking. US employment data will be out on July 2. After this, the ISM services PMI data will be released on July 3. On July 2, there is an address by the head of the US Central Bank Federal Reserve. Details of the FOMC meeting will be announced on July 3.
The stock market hit a record
The 30-share BSE Sensex gained 1,822.83 points or 2.36 percent last week. At the same time, the National Stock Exchange’s Nifty gained 509.5 points or 2.16 percent. Sensex rose 7.14 percent in June. This is its best monthly benefit. On Thursday, the Sensex crossed a historic high of 79,000.
Arvinder Singh Nanda, Senior Vice President, Master Capital Services said, “Market sentiment will be determined by key domestic and global economic data. During this period, HSBC India Manufacturing PMI, HSBC India Services PMI, S&P Global Manufacturing PMI, Federal Reserve Chief’s Address, US Jobless Claims data are key developments for the market.
Motilal Oswal Financial Services Ltd. Siddharth Khemka, senior group vice-president (research, broking and distribution) said, “We expect the market momentum to continue and see share-specific activity. However, due to the economic data coming during the week, some fluctuations may be seen in the market. Vehicle companies will release their monthly sales figures. In such a situation everyone will keep an eye on his share.