Stock Market News: Global trends, announcement of macroeconomic data and trading activities of foreign investors will determine the stock market movement this week. Analysts have said this. Apart from this, fluctuations in the global oil benchmark Brent crude and the rupee against the US dollar will also give direction to the market.
What are the experts saying
Santosh Meena, Head of Research, Swastik Investmart Ltd, said, “The next meeting of the Federal Open Market Committee (FOMC) is to be held in mid-September. But before that the market will be eyeing the US economic data. Manufacturing PMI, non-agricultural employment and unemployment data are to be released this week. All these can significantly affect market sentiment. “He said, “Institutional capital flow will also play an important role in giving direction to the market. “
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The primary reason behind the rise in the domestic market is the increasing expectation of a cut in the policy rate in the US and the buying by domestic investors. The shares of these companies will be watched amid the announcement of vehicle sales figures. Motilal Oswal Financial Services Ltd. Head of Research, Asset Management Siddharth Khemka said, “We expect the market to continue to rise with stock-centric moves. The domestic market will continue to get signals from the global macroeconomic data to be released during the week.”
how was it last week
Last week, the BSE Sensex rose 1,279.56 points or 1.57 percent. The NSE Nifty rose 412.75 points or 1.66 percent. In the last nine days, the BSE Sensex rose 1,941.09 points or 2.41 percent. While in 12 sessions, the Nifty rose 1,096.9 points or 4.54 percent.
Prashant Tapase, Senior VP (Research), Mehta Equities Limited, said, “The benchmark indices reached new highs on the back of broad-based buying support. The expectation of the US Federal Reserve cutting the policy rate next month after the indications given in the Jackson Hole meeting last week has made investors more confident. However, a cautious stance can be adopted and profit booking can be seen. The reason for this is that the market has been rising for the last 12 trading sessions. “
The 30-share BSE Sensex on Friday climbed 231.16 points or 0.28 per cent to an all-time high of 82,365.77. The NSE Nifty, too, has been on a roll since its launch in 1996. It rose 83.95 points or 0.33 per cent to a new peak of 25,235.90. With this, it rose for the 12th consecutive trading session.
