How will the stock market move this week, experts are telling

Analysts at Swastik Investsmart Limited, Master Capital Services and Motilal Oswal Financial Services have given their predictions for the stock market next week. According to analysts, trends in the domestic stock market this week will be largely determined by global trends and movements of foreign investors, with companies nearing completion of quarterly results announcements. Experts said the appreciation of the global oil benchmark Brent crude and rupee against the dollar will also influence the market trend. According to information received from the stock market, Reliance Industries’ separate financial services unit Jio Financial Services will list on the stock market on August 21. Last week, the BSE Sensex closed down 373.99 points or 0.57 percent, while the Nifty ended down 118.15 points or 0.60 percent.

Overview of Swastik Investmart: “In the coming days, macroeconomic indicators, trends in global stock markets and movement of FIIs will play an important role in guiding the market,” said Pravesh Gaur, senior technical analyst at Swastik Investsmart Ltd.

Also read: Dividend stock list: Many stocks including Reliance Industries, Oil India will trade ex-dividend next week

Estimates of Master Capital Services: Arvinder Singh Nanda, senior vice-president, Master Capital Services Ltd, said the market will be influenced by some key global events such as current home sales in the US, unemployment data and the Eurozone S&P Global Composite PMI.

Motilal Oswal Financial Services Estimate: “Reliance, a major index shareholder, will be in focus as Jio Financial Services Ltd is slated to list on Monday,” said Siddharth Khemka, head of retail research at Motilal Oswal Financial Services.