New Delhi: The stock market movement this week will depemd upon the global trends, the buyng and selling activotes of foreign investors and quarterly earnings of the domestic companies, analysts said. The stock exchanges BSE and NSE will conduct a special Muhurat trading session on Diwali Tuesday, October 21 from 1:45 pm to 2:45 pm.
The Indian stock market will remain closed for regular trading on Tuesday. The equity markets would observe a holiday on Wednesday for Diwali Balipratipada.
Diwali Muhurat Trading: Sentiment Cues and Market Holidays
“The truncated trading week will be event-heavy, with several key triggers lined up for investors. Market participants will first react to the quarterly earnings from heavyweights such as Reliance Industries, HDFC Bank, and ICICI Bank, which are likely to set the tone for the broader market,” Ajit Mishra – SVP, Research, Religare Broking Ltd, was quoted by PTI as saying.
Mishra added that investors would closely watch the Muhurat trading session on Tuesday, which will mark the beginning of Samvat 2082, for sentiment cues.
The expert further saif that the second quarter earning of the companies including Colgate, Hindustan Unilever, Dr Reddys Laboratories and SBI Life Insurance Company would also be the factor.
Global developments and India stock market
The developments regarding prpoposed US tariffs on China, movements in crude oil prices and currency, will also affect the stock market movement.
In October 20205 so far, the foreign portfolio investors (FPIs) have turned buyers with a Rs 6,480 crore investment.
“Upcoming results from Hindustan Unilever and Dr Reddys Laboratories are expected to further set the tone for the corporate earnings season. Any relief on US–China trade tensions could lift the market sentiments,” Pravesh Gour, Senior Technical Analyst, Swastika Investmart, said.
Last week, the BSE Sensex surged 1,451.37 points and the 50-share NSE Nifty jumped 424.5 points or 1.67 per cent.
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