US Markets, HDFC Bank results to play decisive role on Nifty performance, Anil Singhvi says
The stock market performance on Monday will be aided by one of the biggest triggers in the form of HDFC Bank quarterly results, Zee Business Managing Editor Anil Singhvi said. The largest private sector bank in the country has posted excellent quarterly results yesterday, which will likely end the sluggishness in the Nifty Bank
The stock market performance on Monday will be aided by one of the biggest triggers in the form of HDFC Bank quarterly results, Zee Business Managing Editor Anil Singhvi said. The largest private sector bank in the country has posted excellent quarterly results yesterday, which will likely end the sluggishness in the Nifty Bank. The results may help the index to trade at par with the Nifty 50, he added.
Another important aspect is the selling trend among the Foreign Institutional Investors (FIIs). The Friday numbers in this regard have been very positive, he said. FIIs bought shares worth Rs 697 in cash markets while it was Rs 1478 cr in Futures & Options (F&O). Technically, the Indian stock markets are going from strength-to-strength, the Managing Editor said.
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अब अमेरिकी बाजार ले जाएगा 11000 के पार...अनिल सिंघवी ने कहा- HDFC बैंक के नतीजों से बैंक निफ्टी को मिलेगा सहारा...शुक्रवार के FIIs की खरीदारी से भी बाजार में आएगी मजबूती#EditorsTake #USMarket #DowJones #FIIs #Sensex #HDFCBank #Nifty @AnilSinghvi_ pic.twitter.com/G7ynz2Bfgj
— Zee Business (@ZeeBusiness) July 20, 2020
The Nifty was also able to close above its 200-day moving average on Friday.
In this result season, the quarterly results of companies have not been as bad as were expected initially. There is some support now coming in the markets from this front. And lastly, AIIMS has given a go ahead to the human trials of coronavirus vaccine. Also, AstraZeneca will be tying up with Serum Institute for producing the vaccine. There is a lot of activity on this front across the world, he further said.
These are some of the positive indicators for the Indian markets, he added.
Amid all these positive cues, the only one thing that the Indian markets now require is a push from the US markets. The only trigger that will dictate the course of Nifty movement will be the strength of US markets particularly Dow Futures, Singhvi said.
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Dow’s performance is critical, though not the only factor, he said. The best thing to happen with the US Markets is the reduction of volatility. This has had a positive impact on the sentiments and has helped in revival of confidence among the traders and investors.
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