Mumbai, 8 June (IANS). The next week is going to be very important for the Indian stock market. Inflation, American tariffs and global economic figures will determine the market trend next week.
On June 12, inflation figures will be released by the government. Inflation affects the entire economy. For this reason, the data of inflation is also considered very important for the stock market. The retail inflation rate in April was 3.16 percent. Apart from this, any update on American tariffs globally can have a great impact on the market.
The Indian stock market has been performing excellent last week and the markets closed rapidly after two consecutive weeks fall. The Nifty rose 252 points or 1.02 percent to 25,003.05 and the Sensex increased 737.98 points or 0.91 percent to close at 82,188.99.
The market boom was led by the Nifty Bank. During this period, the main banking index rose by more than 1.5 percent to close at 56,578.40. During this time the index created a new all-time high of 56,695.
The Nifty Realty recorded a rise of 9.5 percent in the 2-6 June trading session. Media and IT sector closed in red mark.
Last week, foreign institutional investors (FIIs) were pure sellers and during this time they sold in equity market of Rs 3,565 crore. At the same time, domestic institutional investors (DIIs) invested Rs 25,513 crore in the cash segment.
Master Trust Group director Puneet Singhania said that the Nifty closed over 25,000 after showing weakness for two consecutive weeks. The index has managed to stand above the moving average of 21 days and 55 days. Support for the index is around 24,700. In the event of a boom, 25,250 and 25,600 is a blockage level for Nifty.
-IANS
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