Market Outlook This Week: The Indian stock market will determine the move this week with the US Central Bank’s interest rate decisions, global trends, updates related to tariff policy and activities of foreign investors (FPI). Analysts have expressed this opinion. Between the announcement of large economic data, the figures of the wholesale price index based inflation for February 2024 will come on Monday.
What is the opinion of experts?
Vinod Nair, research head of Jijit Financial Services, said that the continuous uncertainty on global trade and the possibility of recession in the US is affecting the speed of the local market. Such a trend is going to continue. However, factor can curb market fluctuations such as recent ‘correction’ after recent ‘correction’, reduction in valuations, fall in crude oil prices, softening in dollar index and hope of bounce of domestic companies in the coming quarters. However, uncertainty about existing trade remains intact.
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Nair said that this week, China’s retail sales and industrial production figures will present a clear picture about the economic growth rate there. He said that apart from this, investors will also be eyeing US retail cell and production figures. Also, during the week, Bank of England will also announce a decision on the interest rate. Everyone will keep an eye on this too.
Last week, the perception of investors was affected due to increasing tension over global trade and the possibility of recession in the US. Research Head of Motilal Oswal Financial Services, Estate Management Siddharth Khemka said, “This week, we estimate that the market will be in limited scope with some ups and downs. The direction of the market will be determined by global trend and American duty policies.
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Last week, the 30 -share Sensex fell by 503.67 points or 0.67 per cent during low business sessions due to holidays last week. The National Stock Exchange’s Nifty was in a loss of 155.21 points or 0.68 per cent.
Prashant Tapse, Senior Vice President (Research), Mehta Equalies Limited, said, “Investor Donald Trump is concerned about the possibility of the administration to impose tariffs on Indian goods and its total effect.” In such a situation, there is a possibility of negative attitude for some more time.
