The stock market in the ongoing week of February will be driven by economic data and global trends. The market participants will also keep a close eye on the activities of the foreign investors. The quarterly results of some companies will also be released this month, hence high trading can be expected in the market.
As per the stock market analysts, the quarterly results season of the companies is now in its final stages. Swastika Investment Ltd’s Santosh Meena, Head of Research, said, “Economic data is going to come this week on both domestic and global fronts. Index Industrial production (IIP) and retail inflation data will be released on February 12.” With the index of different growth rates of Industry on display, the stock market can see a rise and fall in some shares of the industrial companies.
Another factor which will play a major role in the stock market activities this week will be the release of the Wholesale Price Index on February 14. The inflation data in the industry will be calculated based on it. USA’s retail inflation figures will be declared on February 13 and retail sales figures will be declared on February 15.
“Amid these figures, everyone will keep an eye on the fluctuations in bond yields and dollar index in America. Apart from this, crude oil prices and inflow of institutional investors will also be important from the market point of view,” added Santosh Meena as quoted by Outlook. During this week, NHPC, SAIL, BHEL, Hindustan Copper, Mahindra & Mahindra and other companies will announce their December quarter results.
Arvinder Singh Nanda, Senior Vice President of Master Capital Services said that the stock-related activities for this week will be based on global and domestic economic data, foreign investors, domestic institutional investors ( DIIs), crude oil reserves and the quarterly results of the companies. Siddharth Khemka, Head of Retail Research at Motilal Oswal Financial Services Limited, claimed that the ongoing week is expected to have a global relationship between macroeconomic data and the last phase of third-quarter results.
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