Top 5 market triggers this week

Stock market this week: Due to the easing of geopolitical tension, falling crude oil prices and FIIs meeting DIIs as net buyers, the Indian secondary market started FY23 on a strong note. Positive sentiments on Dalal Street went further north after India’s March GST collection rose to an all-time high of $1.42 lakh crore.

According to stock experts, the coming week will be crucial for the Indian secondary markets as RBI monetary policy it is expected to come. They said that in addition to RBI’s credit policy, one should keep an eye on the RBI-Ukraine news as it will continue to dictate global equity markets including Dalal Street.

Talking about the triggers that drove the Indian stock market last week; Santosh Meena, Director of Research at Swastika Investmart Ltd, said: “Indian stock markets start FY23 on a strong note thanks to declining crude oil prices, some positive news on the Russia-Ukraine front , some purchases by IIFs, continued support from IIIs, and a rebound in industrial activities Global markets are stable, however, there is still no clarity on the geopolitical situation, while there are concerns for both the high inflation as for the slowdown as China is struggling with Covid.”

Here we list the top 5 triggers that will dictate the Indian stock market this week:

1]RBI Credit Policy: “This week the RBI monetary policy will be a critical factor in the direction of the Indian markets because it seems that RBI is behind schedule as most of the central banks have already raised interest rates while RBI keeps the status quo. It will be interesting to see how the RBI will handle the tradeoff between inflation and growth, where comments will be crucial,” Santosh Meena said.

2]Russia-Ukraine News: After the ice was broken in diplomatic relations between Russia and Ukraine, the stock market around the world is looking with new hope. “Since both Russia and Ukraine are ready for talks, the world community expects some positive outcome from these talks. However, nothing should be assumed until there is some official announcement from both sides and therefore it is recommended to traders and investors to be vigilant.” about the latest news on Russia and Ukraine,” said Avinash Gorakshkar, head of research at Profitmart Securities

3]Behavior of FIIs: Asking street investors to watch how FIIs behave in the first one or two trading sessions this week, Avinash Gorakshkar said: “After remaining as net sellers since October 2021, FIIs are finally looking at the DII side. as net buyers.However, this has happened only in the last week and therefore no hasty conclusion should be drawn regarding FIIs.You need to watch the trading pattern of FIIs in the first one or two trading sessions this week”.

4]Start of earnings season: The month of April arrives with the results season as well. This month, the earnings season kicks off on April 11, as IT giants like TCS, Wipro, Infosys, HCL Tech, etc. they will announce their quarterly numbers as of April 11.

“We expect a strong move in IT stocks this week as the market awaits Q4 figures from the big IT companies,” Avinash Gorakshkar said.

5]New cases of Covid in China: However, one must keep an eye on new Covid cases being reported in China. On Saturday, it reported the highest number of new Covid cases since February 2020. Any further increase in new Covid cases in China may spoil positive sentiments in global stock markets. Therefore, there is a need for street watchers and investors to keep an eye on new Covid cases being reported in China.

Disclaimer: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of the Mint.

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