The Russia-Ukraine conflict, US central bank decision on interest rate and inflation data on the domestic front will determine the direction of stock markets this week. Analysts have expressed this opinion. Analysts believe that the volatility in the market will continue for the time being.
Also read: Petrol becomes cheaper or more expensive? Check Today’s Rate
Santosh Meena, Head of Research, Swastika Investmart said, “FOMC meeting, Russia-Ukraine conflict this week will be important global factors for the market. There is still uncertainty about Russia-Ukraine tensions. The results of the Federal Open Market Committee (FOMC) meeting will come on March 16. Inflation data will come on March 14. Markets will remain closed on Friday, March 18, on the occasion of Holi.
Ajit Mishra, Vice President Research, Religare Broking said, “It will be a week with less trading sessions. Market participants will react on industrial production (IIP) data on Monday. Similarly, inflation data based on Consumer Price Index and Wholesale Price Index are also to come. The results of the US central bank meeting will be out on March 16. All eyes will be on them.” Last week, the 30-share BSE Sensex rose 1,216.49 points or 2.23 percent. On the other hand, the Nifty of the National Stock Exchange was up by 385.10 points or 2.37 percent.
Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services said, “The results of the assembly elections are out and now the market will react to other important factors in the near future. The market will now keep an eye on Russia-Ukraine geopolitical tensions, rise in crude oil prices, Reserve Bank’s reaction to inflationary pressure on the economy, etc. The volatility in the market will continue till these become favourable.
Yesha Shah, Head of Equity Research at Samco Securities, said, “The Russia-Ukraine war and the US central bank meeting are important developments for the market this week. Inflation data on the domestic front will also be important for the direction of the market.