Last week, Nifty Bank rose 2 per cent after the Reserve Bank of India (RBI) announced a dividend of Rs 2.11 lakh crore to the government.
This led to a significant improvement in market sentiment. I hope the substantial dividend will help the government reduce its fiscal deficit and increase per capita expenditure.
According to experts, the market scenario next week will be guided by key domestic and global economic data.
On the global front, rising US bond yields and commodity prices (crude oil, gold and silver) are other factors that will be closely watched, as these have the potential to impact market sentiment.
Additionally, global currency market fluctuations as well as upcoming economic data releases from Japan and the US will also be important factors to consider.
On the domestic front, several companies, including some big names like DivisLabs, Tata Steel and Apollo Hospitals, will release their financial results next week.
The positive earnings report of the last quarter may provide the market with the strength to continue its uptrend.
According to market experts, we are very close to the Lok Sabha election result and this decision will boost FII inflows.
Mehul Kothari, DVP - Technical Research, Anand Rathi Shares & Stock Brokers said: "Nifty touched the milestone of 23,000 during Friday's session and ended the week with a gain of over 2 per cent. It seems that "The market is ignoring the victory of the BJP government." "Elections with a good majority."
At the moment, the index is moving near the higher end of the ascending channel near 23,100-23,200. Thus, from here on out, “we will maintain a profit-taking stance in the market,” Kothari said.
"On the downside, 22,800-22,600 appears to be extremely strong support for the week ahead," he said.
This led to a significant improvement in market sentiment. I hope the substantial dividend will help the government reduce its fiscal deficit and increase per capita expenditure.
According to experts, the market scenario next week will be guided by key domestic and global economic data.
On the global front, rising US bond yields and commodity prices (crude oil, gold and silver) are other factors that will be closely watched, as these have the potential to impact market sentiment.
Additionally, global currency market fluctuations as well as upcoming economic data releases from Japan and the US will also be important factors to consider.
On the domestic front, several companies, including some big names like DivisLabs, Tata Steel and Apollo Hospitals, will release their financial results next week.
The positive earnings report of the last quarter may provide the market with the strength to continue its uptrend.
According to market experts, we are very close to the Lok Sabha election result and this decision will boost FII inflows.
Mehul Kothari, DVP - Technical Research, Anand Rathi Shares & Stock Brokers said: "Nifty touched the milestone of 23,000 during Friday's session and ended the week with a gain of over 2 per cent. It seems that "The market is ignoring the victory of the BJP government." "Elections with a good majority."
At the moment, the index is moving near the higher end of the ascending channel near 23,100-23,200. Thus, from here on out, “we will maintain a profit-taking stance in the market,” Kothari said.
"On the downside, 22,800-22,600 appears to be extremely strong support for the week ahead," he said.
