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Share Market News Today

Share Market News The upcoming week goes to be an eventful one on Dalal Street with Budget and December quarter earnings of key companies lined up. Moreover, the exchanges will open for 6 days, rather than the standard five.

Budget is far and away the foremost important event of in the week , during which the govt is predicted to form announcements which will give a further boost of the economy. The Economic Survey also will be released during the week.

A number of key quarterly results also will keep the trading terminals busy. The US Federal Reserve System meeting and updates on coronavirus also will be closely monitored.

Here are the key factors in details which will drive the market in the week.

Q3 earnings

After every week filled with banking and financial companies publishing their quarterly earnings, the subsequent week also see a variety of top firms beginning with their numbers. Dr. Reddy’s Labs, HDFC, IndiGoNSE 2.43 attempt to United Spirits will announce their numbers on Monday. Tuesday will see carmaker Maruti Suzuki present its Q3 results. Bajaj twins, Pidilite and Jubilant Foodworks will follow on Wednesday, while Bharat Electronics, Bajaj AutoNSE 0.29 %, Indian Oil, Marico an…

By and enormous , an outsized a part of the reforms are already done, said V Srivatsa, EVP & Fund Manager-Equities at UTI MF.

“Budget over a period has been losing its relevance… it’s not that if nothing is completed within the Budget you’ll not have something arising within the next two, three months as we saw in September when the minister of finance announced a cut within the corporate tax rates,” Srivatsa added.

Fiscal deficit

By and enormous , an outsized a part of the reforms are already done, said V Srivatsa, EVP & Fund Manager-Equities at UTI MF.

“Budget over a period has been losing its relevance… it’s not that if nothing is completed within the Budget you’ll not have something arising within the next two, three months as we saw in September when the minister of finance announced a cut within the corporate tax rates,” Srivatsa added.

Fiscal deficit

Traders will keenly watch the fiscal deficit target that the govt sets for subsequent fiscal year . Analysts expect it to breach the target for the present year set at 3.3 percent of the GDP, as tax collections haven’t been up to the mark amid a slowdown within the economy.

Market to open on Saturday

Traders will have one extra session to form money in the week because the country’s leading exchanges NSE and BSE said they might open for trading on February 1, Saturday, on account of Budget 2020.

This will be a repeat of 2015, when then minister of finance Arun Jaitley presented the Budget on Saturday, February 28. Stock exchanges were open for trading then too.

Economic survey

Economic Survey, which details what went right and what went wrong within the passing year for the economy, is due next week. The book, usually prepared by the office of the chief economic advisor, may give us clues into the nitty gritty behind the flagging economic process . it’s going to also help in charting the direction for further reforms and guide the govt .

January expiry

January futures & options contracts will expire on Thursday, January 30. During the present series, Nifty has been largely flat, edging just 122 points higher till now.

Experts advise guarding profits before F&O expiry and upcoming Budget. “Nifty is probably going to ascertain a tentative start to trade the approaching week. The 12,410 and 12,460 levels will act as resistance while support will are available lower at 12,100 and 12,000 levels. within the event of any correction, the trading range is predicted to urge broader than usual,” said Milan Vaishnav, Consulting Technical Analyst at Gemstone Equity Research & Advisory Services.

Volatility climbs

In the buildup to the Budget week, the volatility has surged within the market. The barometer of volatility within the market, India VIX, gained 10 percent within the last week. It stood at 15.56 as of Friday. Traders will keep an eye fixed on the metric, which if climbs further may make them wary.

Coronavirus scare

Amid a vibrant week crammed with domestic events, the traders also will keep an eye fixed on things in China which is braving the spread of a deadly virus. The epidemic has killed a minimum of 56 people.

The spread of a deadly new virus is accelerating, Chinese President Xi Jinping warned, after holding a special government meeting on the Lunar New Year public holiday. China said on Saturday that it might suspend all tour groups and therefore the sale of flight and hotel packages for its citizens headed overseas, starting on Monday.

The developments may further spook the market as investors may flee to securely , which successively will increase the demand for shelter assets like gold.

Asian markets close

A number of Asian markets are going to be closed on Monday as they observe the beginning of Chinese New Year. Markets in Singapore, Hong Kong, China, South Korea, Malaysia, and Vietnam are going to be closed for trading. Australian markets also will observe holiday marking Australia Day. China and Vietnam also will observe holidays on Tuesday and Wednesday.

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Fed meeting

The US Federal Reserve’s FOMC will meet on January 28-29. Fed has already clarified that there’ll not be any rate changes, but traders will keep a watch on the commentary from its members. Federal Open Market board meeting may offer insight into areas that will become problematic also as its thinking on the record. The US also will release its December quarter GDP data on Thursday.

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