New Delhi: Due to the holiday of Holi, the market may remain under pressure in the coming week with less business day. Investors are eyeing Yes Bank crisis and Corona virus. Both of these have affected business sentiment.
The stock market will remain closed on Tuesday due to Holi. Several macroeconomic figures are to come during the week. Industrial production and retail inflation data will be released on Thursday and the wholesale price index based inflation data on Friday. “Looking at the volatility and apprehension due to the current environment,” said Samitha Securities and Stocknote founder and CEO Jimin Modi. Investors can stay away from the market until things clear about the financial crisis (Yes Bank and Corona virus) And we can reduce the investment. “
He said that the market is likely to remain low due to reduced investment interest and reduced activity by active investors. Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services, said, “On the corona virus and the Yes Bank crisis and its financial system The Indian stock market fell sharply for the second week in a row due to the impact.
Unless the situation is normal in the market, there can be pressure and fluctuation in the market. The fluctuations may also increase due to fluctuations in foreign institutional investors’ capital flows.
The central bank has imposed a withdrawal limit of Rs 50,000 per account in a month and has replaced its board of directors and appointed another board. Meanwhile, the Enforcement Directorate on Sunday arrested Yes Bank co-founder Rana Kapoor in a money laundering case. Gaurav Dua, senior vice president of BNP Pariba said, “Another bank is in trouble. This time the major bank in the private sector is Yes Bank. Though RBI has taken steps… but the already weak perception has further impacted. ”He said,“ Repeated problems in the Indian financial sector have sent the wrong message to foreign investors. A negative trend may be seen in the near future.
