Business News | Monday Market Should Show Recovery Post Clarity on Tax Rumours: Experts
Get latest articles and stories on Business at LatestLY. Indian stock markets geared up for a dynamic performance in the coming week, influenced by a multitude of factors including earning reports, GDP data in euro zone and global market trends.
Mumbai (Maharashtra) [India], May 5 (ANI): Indian stock markets geared up for a dynamic performance in the coming week, influenced by a multitude of factors including earning reports, GDP data in euro zone and global market trends.
According to the market experts Friday's decline in markets was fueled by speculations of increased taxation and Monday is anticipated to witness a rebound as the Finance Ministry provided clarifications post-market hours.
"Monday the market should show some recovery after Friday's fall on back of rumours of higher taxation which may come. The clarification came post market hours from the Fin Min and hence some recoup of losses should happen this week," said Vivek Karwa, VRIDHI Investment.
In the global markets, the investors will closely monitor ongoing earnings results and the GDP data from the European region, both of which are expected to impact market dynamics.
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"Market will react according to the ongoing results season which a key detrimental factor for investors to align their portfolios. The market will also remain vigilant about the BoE policy and GDP data from the euro zone" said Vinod Nair, head of research, Geojit Financial Services.
The Dow Jones Industrial Average's recent volatility, characterized by fluctuations and surpassing previous swing highs, adds an element of uncertainty to market projections, leaving analysts and investors on the different opinions.
Despite the optimism surrounding on the earning reports, market observers anticipate a degree of consolidation due to lofty valuations and potential election-induced uncertainties.
Also the foreign portfolio investors (FPIs) have again returned as net buyers in the Indian stock market in May. Till May 3, they bought equities worth Rs 1,156 crore in India, data from National Securities Depository Limited (NSDL) showed.
In April, FPIs turned net sellers in Indian stocks, as the ongoing geopolitical crisis in the Middle East then likely pushed investors to take money off their portfolios.
FPIs, who continued to remain net buyers for the third month until till mid-April, have cumulatively sold stocks worth Rs 8,671 crore by the end of the month, data showed. (ANI)
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