New Delhi: The quarterly results of companies, developments related to the Corona virus and the decision of the US central bank Federal Reserve on interest rates will decide the direction of the stock markets this week. Analysts have expressed this opinion. Markets will be closed on ‘Maharashtra Day’ on Friday.
Analysts said Franklin Templeton Mutual Fund has closed six bond schemes. In such a situation, retail investors will also keep an eye on the impact of this development on the market. Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services, said, “Investors are still uncertain about the impact of the corona virus on companies. Going forward, the market trend will be determined by the quarterly results of companies, crude oil prices, rupee fluctuations against the dollar, developments related to corona virus. ‘
Khemka said that if some kind of relief package is announced by the government, it may bring some interim relief. “The two-day meeting of the US central bank on April 28,” said Deepak Jasani, head of research, HDFC Securities. Is starting The decision on interest rates will come on April 29. Indian markets were unable to record weekly gains for the third consecutive week due to the enforced shutdown due to Covid-19. The latest case of Franklin Templeton will put pressure on the economy, especially the financial sector. “
Franklin Teppleton Mutual Fund on Thursday announced the closure of six bond schemes due to withdrawal pressure and cash shortage in the bond market. The assets under management in these schemes are Rs 25,000 crore. The BSE Sensex lost 536 points on Friday due to this development. Vinod Nair, head of research at Geojit Financial Services, said the market is not getting relief from the virus-related developments. Investors are eyeing the government. They are waiting for the government to announce any relief package. Nair said this week, one can see fluctuations in stocks especially associated with some companies.
