The domestic front But in the absence of any major developments, the direction of the stock markets this week will depend on the global trend. During a week with fewer trading sessions, the market will mainly take direction from the activities of foreign investors. The stock markets will remain closed on Monday on the occasion of ‘Bakrid’. Santosh Meena, Head of Research, Swastika Investmart Ltd. said that this week has fewer trading sessions and there is a lack of any major indicator. However, amid the discussion about the budget, we may see activities in sector-specific stocks. The market trend will mainly depend on the progress of the monsoon and the flow of institutional investors.
Investors will keep an eye on these figures
He said that on the global front, China’s data, fluctuations in the dollar index and bond yields in the US will be important from the market point of view. Apart from this, the price of Brent crude oil at the global level and the fluctuations of the rupee against the dollar will also be important from the market point of view. Last week, the BSE’s 30-share Sensex was up 299.41 points or 0.39 percent. At the same time, the National Stock Exchange’s Nifty climbed 175.45 points or 0.75 percent. The Sensex reached its all-time high of 77,145.46 points on June 13, while the Nifty touched its new peak of 23,490.40 points on June 14.
The market is expected to remain bullish
Religare Broking Limited Senior Vice President (Research) Ajit Mishra said, “This is a week with fewer trading sessions due to Monday’s holiday. During the week, market participants will keep an eye on global markets, especially the US market.” Motilal Oswal Financial Services Retail Research Head Siddharth Khemka said, “Domestic markets will remain closed on Monday, while globally investors will keep an eye on the Bank of England’s decision on interest rates.” Khemka said, “We expect the market to remain bullish amid positive macro trends, continued government spending and expectations of continuity on the policy front.”
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