New Delhi, 15 June (IANS). The next week is going to be very important for the Indian stock market. Israel-Iran struggle, price of crude oil, American fed policy and wholesale inflation figures will affect the market move.
The Israeli-Iran struggle is going to be an important factor for the stock markets of the whole world next week. In recent times, the impact of the struggle in the Middle East was also seen on the Indian stock market.
The US Fed meeting will run from 17 June to 18 June to review the interest rates. In such a situation, investors will be eyeing this event next week.
Apart from this, data related to wholesale inflation and trade balance data will be released on 16 June at the domestic level. The market can react to these data.
Due to global reasons, the Indian stock market was seen selling last week. During this period, the Nifty and the Sensex fell by more than one percent to close at 24,718 and 81,118 respectively.
The decline in the market was led by FMCG, Realty, PSU Bank and Consumption Index. All these index declined by more than 2 percent. At the same time, there was a boom in pharma, IT and media.
Last week, foreign institutional investors (FIIs) were pure vendors and sold shares worth Rs 1,246 crore. At the same time, domestic institutional investors were pure buyers and purchased equity in cash cash of Rs 18,637 crore.
Bajaj Broking says that the Nifty may continue the consolidation released for the last 1 month in the range of 24,400-25,200 in the next week. If the index breaks the lower levels of this band, 24,000 levels can be seen due to increased geopolitical tension.
It was further stated that there is a blockage at a high level of 25,000. If it breaks this level, then the recent decline may be stopped.
-IANS
ABS/
