new financial year It is starting from 1st April i.e. Monday. Indian stock markets will also open on the first day of the financial year. In such a situation, will the market continue to rise or will the decline return? The market closed with a sharp rise on the last trading day of FY 2024. Market experts say that it is expected that the boom in the market in 2023-24 will continue in the future also. The 30-share BSE Sensex gained 14,659.83 points or 24.85 percent in the financial year 2023-24 ending today. On March 7, it had reached its highest ever level of 74,245.17 points. National Stock Exchange’s Nifty also strengthened by 4,967.15 points or 28.61 percent.
These factors will impact the market
Reserve Bank of India’s decision regarding interest rates, macroeconomic data like vehicle sales, PMI (Purchasing Managers Index) and global trend will give direction to the market this week, analysts have said. Apart from this, trading activities of foreign investors, rupee-dollar trend and the price of global oil standard Brent crude will also affect the trading in the stock market.
Swastik Investmart Ltd. Pravesh Gaur, senior technical analyst, said, “The Monetary Policy Committee (MPC) meeting of RBI will start from April 3. The policy rate will be discussed and the state of the economy will be analyzed in the meeting. The monetary review will be announced on April 5. Its effect will be visible. Apart from this, with the arrival of auto sales data on April 1, investors will keep an eye on the shares of these companies.” He said, ”Apart from this, people will also keep an eye on the position of the rupee against the dollar and the prices of crude oil. They will also keep an eye on foreign institutional investors (FII) and domestic institutional investors (DII) investments.
Fed Chairman Jerome Powell’s speech will be under watch
Pravesh Gaur said US central bank Federal Reserve Chairman Jerome Powell’s speech is scheduled for April 3, 2024 and data like US ISM Manufacturing PMI for March will be announced on April 1. He said that investors will keep a close eye on these things as they have the potential to influence market sentiment. With the rise in the market, the market capitalization (m-Cap) of BSE listed companies increased by Rs 1,28,77,203.77 crore to Rs 3,86,97,099.77 crore in the financial year 2023-24.
These factors will decide the movement of the market
Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd. said, “The market trend will be determined by key global and domestic economic data. This includes vehicle sales data in the country, Manufacturing Purchasing Managers’ Index (PMI) of America and India, job data in America, factory orders etc. He said, “The meeting of the Monetary Policy Committee of the Reserve Bank of India will be held on April 3.” The monetary policy review will start on April 5 and will be announced on April 5. The monetary policy statement will provide important signals on the economy, inflation and interest rates.
The market closed with gains
Last week, the BSE Sensex rose 819.41 points or 1.12 per cent while the National Stock Exchange’s Nifty rose 230.15 points or 1.04 per cent. Ajit Mishra, Senior Vice President (Technical Research), Religare Broking Ltd., said, “In view of the Monetary Policy Committee meeting, we estimate that the market will remain volatile this week also.” On the global front, investors will keep an eye on the activities of the US market.
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