Market Outlook This Week: The activities of foreign investors (FII) and global trends will decide the direction of the stock market this week. Experts have expressed this opinion. He says that the movement of global oil benchmark Brent crude and the trend of rupee-dollar will also affect the trading in the market. Major stock markets BSE and NSE have declared trading holiday on November 20 for the assembly elections in Maharashtra. Elections for the 288-member Maharashtra Assembly will be held on November 20 and counting of votes will take place on November 23.
Expert opinion
Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Limited said that the Indian stock market will remain closed on Wednesday, November 20 due to Maharashtra Assembly elections. Key global economic indicators including election results, US bond yields, dollar index performance, US unemployment claims, latest manufacturing and services PMI data and Japan’s inflation data will be important in shaping the market direction. He said high yields on bonds in the US and dollar strength after the presidential elections have impacted emerging markets like India, and FII (foreign institutional investor) activity remains a major factor that will impact Indian equities in the near future. Still working.
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Ajit Mishra, senior vice president-research, Religare Broking Ltd, said this week is also short due to holidays, and with the earnings session almost over, the focus will again shift to FII inflows. Foreign institutional investors have been continuously selling for the last one and a half month.Apart from this, traders will keep a close eye on global market trends.
Last week, the BSE benchmark index Sensex fell by 1,906.01 points or 2.39 percent. The stock markets remained closed on Friday on the occasion of Guru Nanak Jayanti. The BSE benchmark index closed with a huge fall of 8,397.94 points or 9.76 per cent from its record high and the Nifty also fell by 2,744.65 points or 10.44 per cent from its record high.On September 27 this year, Sensex reached its record peak of 85,978.25 and on the same day, NSE Nifty also reached its record level of 26,277.35. The sharp fall in benchmark indices was due to flight of foreign investors from the domestic market, weak second quarter earnings and high valuations of equities.
