The direction of the stock market will be decided this week by macro economic data and global trend. Analysts have expressed this opinion.
The direction of the stock market will be decided this week by macro economic data and global trend.
The direction of the stock market will be decided this week by macro economic data and global trend. Analysts have expressed this opinion. He says that monthly figures of vehicle sales are also to come during the week, which will play a role in giving direction to the market. Investors were attracted to the stock market last week due to favorable factors like foreign institutional investors (FII) buying and fall in crude oil prices. Last week, the 30-share Sensex of BSE had gained 630.16 points or one per cent.
The Sensex closed at 62,293.64 points on Friday, which is its highest ever level. The National Stock Exchange’s Nifty also closed at its new record level of 18,512.75 points.
What do experts say?
Santosh Meena, head of research at Swastika Investmart, said that the second quarter of gross domestic product (GDP) figures are to come this week. Apart from this, vehicle sales figures will also come. He said that on the global front, the market will keep an eye on the US data and the ups and downs of the dollar index and bond yields. Apart from this, the news coming from China can also become the reason for the ups and downs of the market.
Ajit Mishra, Vice President – Technical Research, Religare Broking Ltd., said that this week market participants will be watching GDP and Manufacturing PMI data for indicators. Along with this, monthly figures of vehicle sales will also come on December 1. At the same time, the GDP figures for the second quarter will come on Wednesday. At the same time, the data of Purchase Manager Index (PMI) for the manufacturing sector will be released on Thursday.
The address of the head of the Federal Reserve will also affect
Vinod Nair, head of research at Geojit Financial Services, said that there is also an address by the head of the Federal Reserve this week. Apart from his address, other macro economic data will decide the direction of the market.
Apart from this, let us tell that next week the stock market investors are getting a tremendous opportunity to earn again. IPOs worth more than Rs 1,000 crore are going to open for subscription next week. IPOs of Dharmaj Crop Guard and Uniparts India are coming next week. In this month, eight companies have raised about Rs 9,500 crore from IPOs.
(with language input)
Source: www.tv9hindi.com”