stock market The direction of this week will be decided by macroeconomic data, September quarter results, global trends and the attitude of foreign investors. Analysts said this. Stock markets will remain closed on Friday on the occasion of Guru Nanak Jayanti. Santosh Meena, Head of Research, Swastik Investmart Limited, said, “CPI and IIP data will be released in India on November 12, while WPI data may come on November 14.” Globally, the US inflation report will be out on November 13, which may influence the upcoming policy stance of the Federal Reserve.
Focus will be on key economic figures
Meena said the market's focus will be on key macroeconomic data after major global events and second quarter results. Quarterly results of Bank of India, BEML, Hindalco Industries, ONGC, Apollo Tires and BrainBiz Solutions will be announced this week. He said the performance of US bond yields and dollar index will be important for emerging markets like India. Analysts said the market will also be affected by fluctuations in global oil benchmark Brent crude and the rupee-dollar exchange rate.
America's figures are also important
Palka Arora Chopra, Director, Master Capital Services Ltd. said, “Market sentiment will be based on India's CPI, Industrial Production, Manufacturing Output and WPI inflation data as well as US CPI, Core CPI, Initial Unemployment Claims, UK GDP data and Will be affected by China's industrial production figures.
FIIs are selling
Last week, BSE Sensex fell 237.8 points or 0.29 percent and Nifty fell 156.15 points or 0.64 percent. VK Vijayakumar, chief investment strategist, Geojit Financial Services, said, “The main reason for weakness in the Indian market is the continuous selling by FIIs, which is continuing this month also.” Siddharth Khemka, head of research, Motilal Oswal Financial Services Limited said. Market volatility is expected to continue due to mixed global factors and weak quarterly results.
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