After the record gain over the past week, the stock market remained to shine on Monday. In the early trading on the first day of the week, the Sensex crossed the level of 39,530 with a gain of more than 100 points. Similarly, the Nifty was at the level of 11,870 with a gain of around 30 points.
On Friday, the Sensex closed at 39,435 with 623 points, while the Nifty was at 18,880 at the level of 11,844. On Monday, shares of Tata Steel, Yes Bank, NTPC, SBI and Mahindra and Mahindra were trading with more than one percent growth. There are IndusInd Bank and Airtel stocks on the red mark.
This week's market move may be influenced by major economic data and foreign signals. Indeed, this week, major economic data will be released in many countries of the world including India's GDP growth rate. India's GDP growth rate declined from 7 percent in the third quarter to 6.6 percent last year.
GDP growth in the fourth quarter last year was 7.7 percent. During this time, the market glance over the developments of the political corridor will remain fixed. For example, the announcement of the formation of a cabinet in the new government and any policy matters. Besides, crude oil prices in the international market and the rupee move against the dollar will also affect the market.
Today, companies such as Oil India, Gail India Colgate-Palmolive India, Monday can release their results last year's last quarter. On the same day, results of Sun Pharma and Punjab National Bank are likely to come. Adani Enterprises, Adani Power Cadila Healthcare, Glenmark Pharmaceuticals, Power Finance, Corporation Power Grid Corp of India, the fourth quarter results could be issued on Wednesday.
At the same time, the results of Coal India, HCL Infosystems and Steel Authority of India (SAIL) will be on Thursday. Apart from this, the April numbers of the country's infrastructural sector output will also come on Friday. There was an increase of 4.7 percent in March.
