With quarterly results season returning to associate finish, Indian stock market can take cues from world events for more triggers, with the overall trend of the equity market expected to stay positive, say specialists.
“FOMC minutes are going to be the key event to observe for on. The central bank can issue minutes from its most up-to-date financial policy meeting on weekday. The readout can give a way of central banker’s views of the economy and therefore the outlook for interest rates,” aforesaid VK Sharma, Head personal consumer cluster & Capital Market Strategy, HDFC Securities.
The general trend of the markets is essentially expected to be positive, he added.
“The domestic market outlook appearance modified when Moody’s upgrade of India’s credit ratings. This upgrade is anticipated to push liquidity into domestic market,” aforesaid Vinod Nair, Head of analysis, Geojit monetary Services.
Investors can closely monitor the crude costs and United States of America FED rate hike that ar expected to bring some volatility. For the week ahead, with second quarter results out of the manner, world cues are going to be the key driver for the markets, with underlining trend expected to be positive, Nair added.
Moody’s Investors Service on Friday raised India’s sovereign rating for the primary time in over thirteen years, locution that growth prospects have improved with continued economic and institutional reforms.
“With results season returning to associate finish, Indian markets can keenly look towards world events for more triggers. whether or not the economic process of crude has paused, or the larger dealings is returning,” aforesaid Jimeet Modi, Founder & CEO, Samco Securities.
Over the last week, the Sensex eked out gains of 28.24 points, or 0.08 per cent, however Nifty dropped 38.15 points, or 0.36 per cent.
“Moody’s ratings upgrade could be a testimony of the actual fact that the government’s roadmap of business reforms is on the proper path. This world recognition could be a positive step for overall Indian economy and it’ll conjointly facilitate in attracting world inflows into India,” aforesaid St. George Alexander Muthoot, MD, Muthoot Finance.