June 25, 2021

Soknacki2014

The Number One Source For Business

Covid-19 trends, vaccination pace among major drivers for markets: Analysts

2 min read


Equity markets this week will be guided by COVID-19 trends, pace of vaccination and global factors amid lack of any major domestic trigger, analysts said.


“Among the key factors, participants will be closely eyeing monsoon updates. Besides, macroeconomic data i.e IIP is scheduled for June 11. With receding COVID cases, the market anticipates further easing by the states ahead,” said Ajit Mishra, VP Research. Religare Broking.





On the earnings front, while most of the heavyweights have already announced their numbers, few prominent names like Bata India, GAIL, SAIL, BHEL and DLF will announce results this week, Mishra said.


Industrial production data is scheduled to be announced on Friday post market hours. Union Bank of India, Petronet LNG and NHPC would also announce their quarterly earnings this week.


“The market is expected to maintain its resilience on a short to medium-term basis due to declining COVID cases and global risk-on strategy. Manufacturing and Industrial production data for the month of April are the key economic data points to be released this week,” Vinod Nair, Head of Research at Geojit Financial Services said.


During the last week, the 30-share BSE benchmark rallied 677.17 points or 1.31 per cent.


“Investors will continue to focus on trajectory of daily caseload and vaccination ramp up in the country in the near term,” said Binod Modi, Head Strategy at Reliance Securities.


Nirali Shah, Head of Equity Research, Samco Securities said, “Indian markets could continue to mimic the movement across global commodities and equities.”

Meanwhile, trend in Brent crude, rupee and foreign institutional investors would also continue to guide markets.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor