Overall, further swings and consolidation are likely in the near term next week with a focus on global indicators, as well as Reliance Industries’ AGM, macroeconomic data, and auto sales figures this month, experts said.

The market finally ended a five-week rally and was up more than 1 percent when volatility returned this week on August. 26, against the backdrop of weak global indicators, the uncertainty of growth, and fears of rate hikes. Interest rates, rising oil and energy prices in Europe are getting higher. .. . …

The BSE Sensex corrected over 800 points to 58,834 while the Nifty50 fell 200 points to 17,559 as pharma, financials, FMCG options, and auto stocks came under pressure.

However, the broader market pared gains in the last three sessions, with the Nifty Midcap 100 and Smallcap 100 gaining 0.35 percent and 1.5 percent, respectively, during the week.

Markets may react negatively on Monday to comments by Federal Reserve Chairman Jerome Powell, who said interest rate hikes would continue to push inflation toward the 2% target, with painful costs for consumers and businesses. But overall, next week is expected to be shortened to continue. Experts say to watch for volatility and consolidation and focus on global indicators, as well as Reliance Industries’ total, macroeconomic data, and monthly car sales figures.

Siddhartha Khemka, head of market research at Motilal Oswal Finance, said markets were likely to become more stable as global economic data showed weakness as Brent crude crossed $100 a barrel and the dollar remained flat.

On the other hand, FII buying amid weak global cues and prospects of a pre-holiday pick-up provided little support to the market, he added.

Ajit Mishra, VP-Research at Religare Broking, reiterated his view that the focus should be on risk management during this phase of the correction and suggested continuing with a certain commodity trading strategy until the Nifty reverses the trend.

Because it is Ganesh Chaturthi on August 31, the market will be closed.

On the other hand, FII buying amid weak global cues and prospects of a pre-holiday pick-up provided little support to the market, he added.

Ajit Mishra, VP-Research at Religare Broking, reiterated his view that the focus should be on risk management during this phase of the correction and suggested continuing with a certain commodity trading strategy until the Nifty reverses the trend.

Because it is Ganesh Chaturthi on August 31, the market will be closed.

1. 45th Assembly of trust companies

Early next week, traders will witness the index-linked Reliance Industries’ 45th Annual General Meeting on August 29 at 14:00, with speeches and addresses by President Mukesh Ambani and other dignitaries.

Analysts believe the company may continue to focus on its consumer retail business with the announcement of the likely listing of Jio Platforms and Reliance Retail. In addition, some expectations may be related to the new energy market, the introduction of 5G mobile services, investment in petrochemicals, and marketing of waste energy consumption on a per-channel basis.

2. Car Sales

In early September, all eyes will be on monthly sales figures. Hence, auto stocks including Tata Motors, Maruti Suzuki, Bajaj Auto, Mahindra & Mahindra, Eicher Motors, TVS Motor, Ashok Leyland, and Hero MotoCorp will be under scrutiny next weekend.

Overall, analysts expect the trend to be similar to July in August, with continued growth in commercial vehicles amid strong growth in the freight and passenger transport sectors.

“Passenger volumes should be greater because of increasing orders and manufacturing,” Emkay continued. Also, two-wheeler volumes will increase based on sales,” added Emkay. .. . However, the difficulty of the tract is reduced due to uneven sensitivity, uneven distribution of rain gases, and infertile soil.

By bemaad

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