The stock market may see fluctuations this week. The market will keep an eye on factors ranging from tension between India and Pakistan to foreign investors’ purchases and fourth quarter results. 5 factors that will determine the market’s movement this week… 1. Tension between India and Pakistan Even after the ceasefire, the tension between India and Pakistan has not reduced. Investors will keep an eye on all developments related to this matter. Pakistan broke the ceasefire just 3 hours after it came into effect at 5 pm on Saturday. Drone attacks were carried out in Jammu and Kashmir, Gujarat, Rajasthan and Punjab, which were foiled by the Indian Army. This information was given by Foreign Secretary Vikram Misri in a press conference at 11 pm. However, the situation appeared normal on Sunday morning. 2. Inflation rate figures Retail inflation figures for the month of April will be released on May 13. Inflation is expected to come down to below 3% in April. Inflation is expected to fall due to reduction in prices of various commodities, especially food items. Earlier in March, retail inflation had come down to the lowest level in 5 years and 7 months. It was 3.34% in March. Inflation was at 3.28% in August 2019. The Ministry of Statistics released inflation figures on Tuesday, April 15. At the same time, wholesale inflation figures for the month of April will be released on May 14. Wholesale inflation had come down to 2.05% in the month of March. This is the lowest level in 4 months. Earlier in November, inflation was 1.89%. At the same time, inflation was at 2.38% in February. 3. Fourth quarter results of companies Many major companies like PVR Inox, Tata Steel, Bharti Airtel, Cipla, GAIL, Hero MotoCorp, Tata Motors, Lupin, Godrej Industries and BHEL will announce their fourth quarter results. Investors will keep an eye on them. 4. Two new IPOs, two listings No IPO will open in the mainboard segment this week. In the SME segment, the IPOs of Integrity Infrabuild Developers and Accretion Pharmaceuticals will open on May 13 and 14. The IPOs of Shreeji DLM and Manoj Jewelers Limited will be listed on May 12. 5. Foreign investors bought shares worth Rs 5,087 crore Between Monday and Friday, foreign institutional investors (FIIs) continued their buying spree and bought about Rs 5,087 crore in the segment. Domestic institutional investors (DIIs) bought shares worth about Rs 10,450 crore. Technical View According to market experts, technically, Nifty 50 is currently hovering around the key moving average. This indicates the possibility of further decline. Religare Broking Research Analyst Ajit Mishra said- “Immediate support is at 23,800. If it goes below this, the level of 23,200 can be seen. On the upside, it could face strong resistance near 24,400-24,600.”
