The direction of the market will be decided by the global trend and the activities of foreign investors, the market will remain closed on Monday due to this reason

Market Outlook this week : In the absence of any major indicator on the domestic front, the direction of the stock market this week will be decided by the global trend. During a week with fewer trading sessions, the market will mainly take direction from the activities of foreign investors. Analysts have expressed this opinion. Apart from this, the price of Brent crude oil at the global level and the fluctuation of rupee against the dollar will also be important from the market point of view. The stock market will remain closed on Monday on the occasion of ‘Bakrid’.

Last week, the 30-share BSE Sensex gained 299.41 points or 0.39 per cent, while the National Stock Exchange’s Nifty rose 175.45 points or 0.75 per cent. The Sensex reached its all-time high of 77,145.46 points on June 13, while the Nifty touched a new peak of 23,490.40 points on June 14.

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What do experts say

Santosh Meena, Research Head, Swastika Investmart, has said that this week is going to have fewer trading sessions and there is a lack of any major indicators. However, amid the discussions about the budget, we may see activity in sector-specific stocks. The market trend will mainly depend on the progress of monsoon and the flow of institutional investors. He said that on the global front, China’s data, fluctuations in the dollar index and US bond yields are going to be important from the market point of view.

Religare Broking Limited’s Senior Research Vice President Ajit Mishra has said that this is a week with fewer trading sessions due to Monday’s holiday. During the week, market participants will keep an eye on the global markets, especially the US market.

Motilal Oswal Financial Services Retail Research Head Siddharth Khemka has said that the domestic markets will remain closed on Monday, while globally investors will keep an eye on the interest rate decisions of the Bank of England. He has expressed hope that the market will remain bullish amid positive macro trends, continued government spending and the possibility of continuity on the policy front.