Market Outlook: From Budget 2019 to Q3 earnings, check what all to drive share bazaar this week
Market Outlook: From Budget 2019 to Q3 earnings, check what all to drive share bazaar this week
The stock market is likely to track a host of key domestic and global events this week like the interim Budget for 2019-20, January derivatives expiry, quarterly earnings from bluechips and the US Fed interest rate decision, say experts.
"Market may extend the range bound movement as global risk factors like the US-China trade talks and growth concern continued to gain investors' attention," said Vinod Nair, Head of Research, Geojit Financial Services.
A lot of events are lined up - like the Budget, Federal Open Market Committee (FOMC) meet, quarterly results of Axis Bank, ICICI Bank, Bajaj Finance, IOC and HCL, said Mustafa Nadeem, CEO, Epic Research.
Among major quarterly results to be announced this week are from Bank of India, Canara Bank, Axis Bank, Bank of Baroda, HCL Technologies, HDFC, Bajaj Auto, ICICI Bank, Hero MotoCorp, Dr Reddy's Laboratories and SBI.
The government on February 1, would unveil the interim Budget for 2019-20.
Investors are also likely to take cues from foreign fund flow. Going ahead, key corporate results and trade negotiations between the US and China will dictate market sentiment, said Paras Bothra, President, Equity Research, Ashika Stock Broking.
According to provisional data on BSE, foreign portfolio investors (FPIs) bought shares worth a net of Rs 689.28 crore, while domestic institutional investors (DIIs) sold shares worth Rs 147.35 crore on Friday.
January month derivatives expiry on Thursday and announcement of PMI data for the manufacturing sector on Friday may also influence trading sentiment, experts said.
During the past week, the BSE benchmark Sensex fell 361 points and the NSE Nifty fell 126 points.
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