Indian Stock Market Outlook: The business activities of foreign investors, movement of the dollar and global macroeconomic data will decide the direction of the stock market this week. Analysts predicted that due to holidays, the stock market may trade in a limited range in the short week.
expert opinion
An expert said that due to Christmas and New Year holidays, many global markets may see sluggish activity. Domestic stock markets will remain closed on Thursday on the occasion of Christmas. Ajit Mishra, Senior Vice President (Research) at Religare Broking Limited, said, business may remain limited this week due to the year-end festive period.
At the domestic level, the market will keep an eye on data related to infrastructure sector as well as data related to bank credit growth, deposit growth and foreign exchange reserves. Currency movements and crude oil prices will also remain important factors. Globally, the performance of major markets, especially America, will remain under watch.
Ponmudi R, CEO of online stock trading platform Enrich Money, said strong domestic liquidity is acting as a hedge against deeper downside risks, while if foreign investors return, the market could see the next phase of bullishness.
He said that market sentiment has become more positive after lower than expected US inflation and this environment has historically been favorable for emerging markets including India.
How was the condition of the stock market on Friday?
The last trading session of the Indian stock market week was positive on Friday, December 19. Major benchmark indices closed trading in the green. BSE Sensex was up by 447.55 points and closed at the level of 84,929.36. Nifty also ended the day trading at 25,966.40 points with a rise of 150.85 points.
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