New Delhi, 1 June (IANS). The next week is going to be very important for the Indian stock market. The activity of RBI MPC, PMI, FII and the impact of the upcoming global economic data will be seen on the market.
Domestically, on June 2, S&P Global Manufacturing PMI figures will come. This will provide information about the status of the country’s manufacturing sector. At the same time, the three -day meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) will begin on June 4 and its results will be announced on 6 June by the RBI Governor. This meeting will take a decision regarding interest rates, which will affect the move of the stock market.
According to Bajaj Broking Research, the US figures will come globally in the US on June 2. On June 6, parole and unemployment figures of May can be released by the US government.
The market saw a decline in the market session of 26-30 May. During this period, the Nifty and Sensex slipped around 0.40 percent to close at 24,750 and 81,451 respectively.
However, even after the fall in the main indices, the Nifty Banking Index closed up 0.63 percent. At the same time, the PSU Bank Index led the boom in the banking sector and closed up nearly 4 percent. During this time, the selling was seen in FMCG shares, due to which the Nifty FMCG index closed nearly 2 percent.
Foreign institutional investors (FIIs) sold about Rs 418 crore in the cash market last week and domestic institutional investors invested more than Rs 33,000 crore during this period.
Master Trust Group director Puneet Singhania said that the Nifty closed in the red mark in the second consecutive trading week and has now gone below 25,000. However, the index remains above its 21 days of moving averages.
He further said that 24,500 is a strong support for Nifty. If it breaks, up to 24,200 levels can be seen. In the event of a boom, 25,000 will be a strong blockage level.
-IANS
ABS/
