Ajit Karn
The majority of Indian stock indices traded relatively steady on Tuesday morning, following a session-ending high.
On Monday, the indices traded on a strong note, and the Sensex gained approximately 400 points.
“Markets began the week on a positive note and gained over 0.5 percent. Ajit Mishra, Vice President – Technical Research, Religare Broking, remarked, “As the day progressed (on Monday), notable buying in banking and financials majors changed the tone of the market after a dull start.”
Investors will continue to monitor the earnings of listed companies and the most recent pattern of foreign investments in Indian equities for fresh indicators.
“The immediate concern is whether the current upswing can be sustained. The answer will primarily depend on global signals, as the market requires support from global markets, particularly the United States, according to VK Vijayakumar, chief investment strategist at Geojit Financial Services.
This week is incredibly significant for the United States, as many of its largest technology companies will report earnings. Importantly, US inflation and GDP data are anticipated this week and will influence the Fed’s interest rate decision the following week, Vijayakumar stated.
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The financial markets in the Asia-Pacific region were generally lower on Tuesday, following a similar session on Wall Street, as investors awaited the release of US earnings later this week, according to Deepak Jasani, director of retail research at HDFC securities.
