Santosh Meena, Research Head, Swastika Investmart, says that the major concern for the Indian markets is the indiscriminate selling of Foreign Institutional Investors (FIIs).
Market Outlook This Week: In the absence of major events on the domestic front, the direction of the stock markets will be decided by global trends this week. Expressing this opinion, analysts said that investors will also keep an eye on the trend of foreign funds and crude oil prices. Apart from this, he believes that monsoon will also be important for the market. Last week, the 30-share BSE Sensex fell by 2,943.02 points or 5.42 percent. On the other hand, the Nifty of the National Stock Exchange lost 908.30 points or 5.61 percent.
FPI withdrawal continues, shares worth Rs 31,430 crore sold so far in June
What do experts say
- Santosh Meena, Research Head, Swastika Investmart said, “The major concern for the Indian markets is the indiscriminate selling by Foreign Institutional Investors (FIIs). Rupee fluctuations and news related to monsoon will also be important from the market point of view.
- Ajit Mishra, Vice President – Research, Religare Broking said, “In the absence of any major developments on the domestic front, the direction of the local markets will be determined by the global trend. Market participants will be watching the cases of Kovid infection and progress of monsoon.
- Meena said that due to weak global trend, aggressive increase in interest rates in the US and selling of FIIs, there was a huge fall in the market last week.
- Shivani Kurien, Senior EVP and Head of Equity Research, Kotak Mahindra Asset Management Company said, “There are many factors that will decide the market trend this week. Factors like inflation and monetary policy, commodities especially crude oil, news related to Ukraine-Russia war front and domestic demand and corporate earnings will determine the direction of the markets in the near future.
- Yesha Shah, Head Equity Research, Samco Securities, said that there is no major development going to happen this week on the domestic and global front. In such a situation, global trends will be important for local markets.
(Input-PTI)
