Market Outlook this week:Global trends, activities of foreign investors and macroeconomic data on the domestic front will decide the direction of the stock market in this short trading session. Analysts have expressed this opinion. Stock markets will remain closed on Wednesday i.e. 2nd October on the occasion of ‘Gandhi Jayanti’. On the domestic front, monthly data of vehicle sales and quarterly results of companies may see some stock-specific activity in the near future. This week, the Purchasing Managers Index (PMI) data for manufacturing and service sectors will influence market movements.
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 by 388 points or 1.50 percent. On Friday, the Sensex reached a new record high of 85,978.25 during the day’s trading. During trading on the same day, Nifty reached a new high of 26,277.35 points.
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What do experts say?
Vinod Nair, Research Head, Geojit Financial Services, said that ‘In future, investors will keep an eye on the second quarter results of the companies. Investors are expecting improvement in the earnings of companies.
Santosh Meena, Research Head, Swastika Investmart said that it will be interesting to keep an eye on the flow of Foreign Institutional Investor (FII) in future. 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. Also, geopolitical developments will remain an important factor at the global level.
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Siddharth Khemka of Motilal Oswal Financial Services said that we are hopeful that the positive trend of the market will continue led by major stocks.
Ajit Mishra of Religare Broking said that going forward, in the absence of domestic indicators, global factors will play an important role in directing the market. He said that everyone will keep an eye on the vehicle sales figures to be released on October 1. Apart from this, the data of HSBC India Manufacturing PMI and HSBC India Services PMI will also be important. Everyone will also keep an eye on the inflow of foreign funds and fluctuations in crude oil prices.
