Stock market investors are gearing up for a busy week ahead as several key triggers are set to influence market direction. From geopolitical tensions to domestic macroeconomic data, there are plenty of factors to keep an eye on. Last week, despite reaching all-time highs, domestic equity benchmarks remained flat due to concerns over inflation in the US and rising crude oil prices.
Gold prices saw an uptick amidst geopolitical uncertainties, while European markets showed strong performance. On the domestic front, foreign investors are cautious, particularly in the banking sector, while the auto and realty sectors are showing resilience.
Looking ahead, the upcoming week will see the release of Q4FY24 results for several major companies, including Wipro, Infosys, and Bajaj Auto. Additionally, there will be three new IPOs and two listings hitting the market, providing further opportunities for investors.
Global cues, including the ongoing Israel-Iran conflict, will also be closely monitored, along with movements in crude oil prices. Analysts expect Nifty 50 to potentially dip further, with support around the 22,350-mark.
Overall, experts advise traders to focus on stock selection and adopt a hedged approach in the current volatile market environment. With a mix of domestic and global factors at play, investors will need to stay vigilant and adapt their strategies accordingly.
