New Delhi : Global trends, investment in FPI and macroeconomic data on the domestic front are going to decide the trend of the stock market this week. According to analysts, the activities of these factors are going to determine the fluctuations of the domestic market. Let us tell you that the stock market is going to remain closed on Wednesday due to the occasion of Gandhi Jayanti.
Santosh Meena, Research Head, Swastika Investmart Limited, said, “It will be interesting to monitor the inflow of Foreign Institutional Investors (FIIs) in the coming times. The Indian stock market has seen the highest FII inflow in September this year. Fluctuations in prices, the US dollar index and macroeconomic data there will also provide direction to the market.”
Focus will be on vehicle sales report
Meena said, “At the same time, geopolitical developments will remain an important factor at the global level.” Meena said that on the domestic front, the monthly figures of vehicle sales and the quarterly results of companies may lead to equity-specific activity in the near future. During the week, the Purchasing Managers Index or PMI data for manufacturing and service sectors will influence market sentiment. Siddharth Khemka, Head-Research and Management, Motilal Oswal Financial Services Ltd. said, “We expect the positive trend in the market to continue, led by major stocks.”
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new high level records
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. Let us tell you that on Friday, Sensex trading had crossed its highest ever figure in the pre-opening market. Also, during the same day's trading, Nifty had also crossed the new high record with a gain of 26,277.35 points.Religare Broking Ltd. “Going forward, in the absence of domestic indicators, global factors will play an important role in directing the market,” said Ajit Mishra, Senior Vice President – Research at FTSE.
Keep an eye on the second quarter results
Mishra said, “The stock market may also be affected due to the vehicle sales data to be released on October 1.” Apart from this, the quarterly figures 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, Geojit Financial Services, said, “In the coming time, investors will keep an eye on the second quarter results of companies. “Investors are expecting improvement in the earnings of companies.”
(with agency input)
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