Share Market Investment: How will be the trading of the stock market this week, know the details before investing

Share Market Investment: The stock market is expected to remain bullish this week. Factors such as US GDP data and Federal Reserve Chairman Jerome Powell's speech will determine the market movement with foreign and domestic investors buying in the market.

Siddhartha Khemka, Head of Research – Wealth Management, Motilal Oswal Financial Services, said, “Markets are gradually moving higher and we expect this positive momentum to continue next week as well with strong FII inflows.”

Two mainboard and 9 SME IPOs

There will be 11 IPOs in the week starting September 23. Of these, 2 are mainboard IPOs. Manba Finance's Rs 151 crore IPO will open for subscription on September 23, while KRN Heat's offer will open on September 25.

At the same time, in the mainboard segment, Western Carriers India, Arcade Developers and Northern Arc Capital will debut in the stock market on September 24 this week. 11 IPOs including Popular Foundation, Deccan Transcon Leasing will be listed from the SME segment.

Powell's speech and US GDP

Investors will keep an eye on the US GDP data for the second quarter ending June 2024. This will be followed by a speech by Federal Reserve Chairman Jerome Powell on September 26. The second estimate put GDP at 3% for the June quarter.

Besides, market participants will also eye PCE prices and real consumer spending for Q2-CY24, durable goods orders, personal income and spending, and new home sales data for August.

Global Market

Investors will also keep an eye on how the global markets perform next week. On Friday, the US market's Dow Jones closed with a slight increase at 42,063. On the other hand, the Nasdaq closed at 17,948, falling 0.36%.

Asian markets also saw gains on Friday. Japan's Nikkei closed 1.53% higher. Hong Kong's Hang Seng index rose 1.36%. China's Shanghai Composite Index closed 0.029% higher.

Nifty may cross 26,000 this week

Technically, Nifty 50 has broken the congestion zone of the last three weeks. Momentum indicators RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) are also indicating bullishness in the market.

Experts believe that the index may cross the psychological level of 26,000 in the coming week. The market has immediate support at 25,500. After that, there is support at 25,300.

Sensex and Nifty made all time high last week

On September 20, after strong signals from global markets, the Sensex made a new all-time high of 84,694 and the Nifty of 25,849. After the day's trading, the Sensex closed at 84,544 with a gain of 1359 points.