Stock Market News Updates: On the domestic front, macroeconomic data, global trend and activities of foreign investors will decide the direction of local stock markets this week. Analysts have expressed this opinion. Analysts say that after the record rise last week, there may be volatility in the market this week due to high valuations. Investors will also keep an eye on global oil benchmark Brent crude oil prices and rupee-dollar movements for further signals.
Company is giving dividend of Rs 130 on 1 share, record date this week
What are the experts saying?
“There will be potential volatility in the stock market this week,” said Pravesh Gaur, senior technical analyst at Swastika Investmart. High valuations remain a matter of concern. Investors will now keep an eye on the progress of monsoon and its impact on the rural economy. Everyone’s eyes are also on the general budget coming in July. Growth-oriented policies are being expected in the market. He said that the activities of foreign and domestic institutional investors (FII and DII) and crude oil prices will also influence the market sentiment.
He said that on the global front, high level of profit booking has been seen in the American market. America’s employment figures will come on July 2. After this, ISM Services PMI data will be released on July 3. Also on July 2, there is an address by the head of the US central bank Federal Reserve. The details of the FOMC meeting will be released on July 3.
Stock market made a record
Last week, the 30-share BSE Sensex gained 1,822.83 points or 2.36 percent. At the same time, Nifty of National Stock Exchange rose 509.5 points or 2.16 percent. Sensex has risen 7.14 percent in June. This is its best monthly gain. On Thursday, the Sensex had crossed the historical level of 79,000 points.
Arvinder Singh Nanda, Senior Vice President, Master Capital Services, said, “The market trend will be determined by key domestic and global economic data. During this period, HSBC India Manufacturing PMI, HSBC India Services PMI, S&P Global Manufacturing PMI, Federal Reserve Chief’s address, US unemployment claims data are the major developments for the market.
Motilal Oswal Financial Services Ltd. Siddharth Khemka, senior group vice-president (research, broking and distribution), said, “We expect the market momentum to continue and share-specific activity to be seen. However, there may be some fluctuations in the market due to the economic data coming during the week. Vehicle companies will release their monthly sales figures. In such a situation, everyone will keep an eye on their shares.
