Mumbai, November 16 (IANS). Next week is going to be very important for the Indian stock market. Market movements will be influenced by second quarter results, services PMI, infrastructure output data and NDA’s bumper victory in Bihar assembly elections. This information was given by market experts on Sunday.
On the other hand, at the global level, economic data coming from America like Fed minutes etc. will also have an impact on the Indian stock market.
“Additionally, the ongoing volatility in AI-linked stocks will also need to be kept an eye on over the next week as it has the potential to impact market sentiment broadly,” said Ajit Mishra of Religare Broking.
The performance of Nifty and Sensex was strong last week. Nifty closed 1.64 per cent or 417.75 points higher at 25,910.05 and Sensex closed 1.62 per cent or 1,346.50 points higher at 84,562.78.
During this period, the performance of midcap and smallcap was also excellent. The Nifty Midcap 100 index was at 60,739.20, up 896.05 points or 1.50 per cent and the Nifty Smallcap 100 index was at 18,252.50, up 176.55 points or 0.98 per cent.
The reason for the rise in the Indian stock market was due to strong signals at the global and domestic level. This includes the end of the US shutdown and the decline of wholesale and domestic inflation in India.
Due to cut in GST rates, retail inflation has come down to 0.25 percent in October. At the same time, the wholesale inflation rate has come down to -1.21 percent in October.
Last week, Nifty India Defense Index was on top with a gain of 4.14 percent. Nifty IT closed with gains of 3.37 percent, Nifty Pharma 2.94 percent, Nifty Energy 1.32 percent, Nifty Infra 2.40 percent, Nifty Services 1.54 percent, Nifty Healthcare 1.49 percent and Nifty Commodities 0.64 percent.
According to the report of JM Financial Institutional Security, NDA’s bumper victory in Bihar Assembly elections is a good sign for the stock market and the market can react positively to it. Also, this will increase the stability of the NDA government at the Centre, which is good for the economy.
–IANS
abs/