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US Fed meeting, corporate earnings, Budget, and several IPOs are likely to impact Dalal Street investors this week. “Going forward, global market factors like the policy rate decisions of major countries will affect the market, and markets are likely to witness stock-specific actions during the ongoing earnings season,” said Vinod Nair, Head of Research, Geojit Financial Services.
The key highlights of this week are going to be the Interim budget, the US Federal policy decision and quarterly earnings.
Interim Budget, the US Federal policy decision and quarterly earnings will be the major drivers for stock markets which may also see some consolidation this week, say analysts. Besides, investors would also focus on the trading activity of foreign investors and global trends for further cues. From the macroeconomic front, the PMI (Purchasing Managers' Index) data for the manufacturing sector is scheduled to be announced on Thursday.
Based on the OI percentage, 109 stocks saw long unwinding which were ONGC, Alkem Laboratories, United Breweries, Bharti Airtel, and Britannia Industries.
SBI Research estimates that tourists would splurge more than Rs 4 trillion by the end of this year, backed by initiatives taken by the Uttar Pradesh government