Stock Market Update: The volatility in the stock market may continue even further. Omicron, a new variant of Kovid-19, is spreading rapidly across the country. In the coming days, the movement of Sensex and Nifty will be decided by the news of Omicron, macroeconomic data and global cues. Market experts have expressed this opinion. The past year 2021 has been quite historic for the Indian stock markets. During this time the market made many new achievements. Last year, the 30-share Sensex of BSE had gained 10,502.49 points or 21.99 per cent.
Vehicle sales and PMI figures will have an impact
Ajit Mishra, Vice President, Religare Broking said, “This week marks the beginning of a new month. During the week, investors will be eyeing many important data like Monthly Vehicle Sales, Manufacturing PMI of India and Services PMI. Apart from this, news related to Kovid-19 and the performance of the global market will also be important from the market point of view.
Market has improved since two weeks
He said that the market has improved for the last two weeks, but it is too early to say that we have overcome the uncertainty. Mishra said that amidst a mixed trend in the market, participants should take a cautious approach and be ready for hedging. While there is improvement in all the categories of stocks, but we believe that Banks, Pharma, IT and FMCG companies will outperform others.
Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services said that the country and the world omicron The infection is spreading rapidly. In such a situation, the market will start with a cautious approach. Khemka said, “Despite this, we have maintained our optimistic stance. We estimate that in 2022, Nifty will give returns of 12 to 15 percent to the investors. This will be supported by the revival of the economy and increase in corporate earnings. ,
PMI figures for the manufacturing and services sector are to come this week, which will affect the business sentiment. Vinod Nair, Head of Research, Geojit Financial Services, said, “Despite the threat from Omicron, Indian markets are expected to perform moderately. This will be supported by strong long-term growth projections.
The market made many records
Monthly sales figures of auto companies have come on Saturday. In such a situation, the shares of auto companies will be in focus on Monday. Last year, the 30-share Sensex of BSE crossed the historic 50,000 mark for the first time. It also touched the record level of 62,000 mark during the year. After the start of the pandemic in March, 2020, the market came down quite sharply.
Market will also keep an eye on crude oil
Nair said that in 2021, the Indian markets outperformed the markets of other countries despite the challenge of the pandemic. Expert said that the market will also be watching the investment trend of foreign institutional investors, Brent crude oil prices and the volatility of the rupee.