Business

There will be tremendous movement in the stock market next week, these developments including LIC IPO, Auto Sales will affect

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stock market

Highlights

  • Markets are likely to have a sluggish start this week
  • Global indicators will dominate the Indian market this week
  • Reliance, Britannia, HDFC Ltd, Tata Steel results to come

stock market There is going to be a lot of movement in the next week. In fact, the decision on interest rates by the US central bank Federal Reserve, announcements of macroeconomic data on the domestic front and quarterly results of companies will come, which will affect the stock markets. These important developments will work to decide the direction of the market from Monday. Apart from this, monthly sales figures of auto companies and initial public offering (IPO) of Life Insurance Corporation (LIC) will be all eye, analysts have expressed this opinion. Stock markets will remain closed on Tuesday on the occasion of Eid-ul-Fitr.

Market likely to remain sluggish

Santosh Meena, Head of Research, Swastika Investmart said, “After the sharp fall in the US market, the market is likely to open this week on a sluggish start. Investors will again focus on the outcome of the FOMC meeting in the US. The FOMC meeting is to be held on Wednesday and the Indian market will react on Thursday. “Global indicators will dominate the market this week as the Bank of England (BoE) will also take a decision on the interest rate in addition to the FOMC meeting,” he said. Also US employment figures and global PMI figures are also to come this week. Besides the monthly vehicle sales figures this week, the fourth quarter results of big companies like Reliance, Britannia, HDFC Ltd, Adani Enterprises, Hero MotoCorp, Tata Steel, Titan, Kotak Mahindra Bank and Tata Power are also to come, he said.

Investors will be the first to react to vehicle sales

Ajit Mishra, Vice-President – Research, Religare Broking said, “This week will be less business days due to holidays. Many important developments and figures are going to come during the week. Market investors will be the first to react to vehicle sales figures. On the macro front, the manufacturing PMI and services PMI figures will come on May 2 and May 5 respectively, Mishra said. The much-awaited IPO of Life Insurance Corporation (LIC) will open on May 4. On the global front, all eyes will be on the outcome of the US central bank meeting. The country’s largest life insurer LIC on Wednesday fixed the price range for its Rs 21,000 crore IPO at Rs 902-949 per share. The company’s IPO will open on May 4.

All eyes will be on the US Fed

Yesha Shah, Head of Equity Research, Samco Securities said, “Globally, the FOMC meeting will be under discussion. Any ‘surprise’ decision in this meeting could lead to a panic reaction in the global markets. Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services said that LIC’s big IPO will open on May 4. This could lead to a exit from the market and some selling pressure could be seen for some time.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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