global Trends, activities of foreign investors and macroeconomic data on the domestic front will decide the direction of the stock market during this week of lean trading session. Analysts have expressed this opinion. Stock markets will remain closed on Wednesday i.e. October 2 on the occasion of 'Gandhi Jayanti'. Swastika Investmart Ltd. Santosh Meena, head of research, said, “It will be interesting to see the flow of foreign institutional investors (FIIs) going forward. The Indian stock market has seen the highest FII inflow in September this year. Fluctuations in commodity prices, US dollar index and macroeconomic data there will also provide direction to the market.
What are the experts saying?
Meena said, “Also, geopolitical developments will remain an important factor at the global level.” Meena said that on the domestic front, monthly vehicle sales figures and quarterly results of companies will see special action in the shares in the near future. Can be found. Purchasing Managers Index (PMI) data for manufacturing and services sectors will influence market sentiment during the week. “We expect the market to continue its positive trend led by major stocks,” said Siddharth Khemka, Head-Research, Asset Management, Motilal Oswal Financial Services Ltd.
There was a rise in the market last week
Last week, the 30-share BSE Sensex gained 1,027.54 points or 1.21 percent. At the same time, Nifty of National Stock Exchange rose 388 points or 1.50 percent. On Friday, Sensex touched a new all-time high of 85,978.25 during intraday trading. During trading on the same day, Nifty reached a new high of 26,277.35 points. Religare Broking Ltd. Ajit Mishra, Senior Vice President-Research, said, “Going forward, in the absence of domestic indicators, global factors will play an important role in directing the market.” Mishra said, “All will be dependent on the vehicle sales data to be released on October 1.” Will keep an eye on. Apart from this, the data of HSBC India Manufacturing PMI and HSBC India Services PMI will also be important. Also, everyone will keep an eye on the inflow of foreign funds and fluctuations in crude oil prices. Vinod Nair, head of research at Geojit Financial Services, said, “In the future, investors will keep an eye on the second quarter results of the companies. Investors are expecting improvement in the earnings of companies.
Image Credit: India-Tv.