Market this week: This week, the market moves can depend on many factor. One of these is the possibility of cutting the interest rates of the US Federal Reserve. It is believed that this step may increase optimism in the domestic stock market. Experts believe that investors’ attention is also on the deadline to impose additional American tariffs on Indian goods. Apart from this, business activities, global trends and comprehensive economic figures of foreign investors will determine the stock market trends this week.
Market move dependent on many things?
The stock markets will be closed on the occasion of Ganesh Chaturthi on Wednesday. Market experts say positive global signals are likely to get some support, as US Federal Reserve Chairman Jerome Powell has indicated a possible cuts in interest rates in their speech at the Jackson Hall Seminar. After this, the US markets rose strongly and the dollar index weakened.
Santosh Meena, Research Chief of Swastika Investmart, says that another important factor will be the time limit of August 27 related to the US plan to impose an additional 25 percent fee on Indian exports. He says that in the absence of clarity, the participation of FII may be less. Along with this, the country, China and India will also be closely monitored.
What do brokerage firms believe?
Earlier, the US markets closed with a sharp lead on Friday. Dow Jones Industrial Average climbed 1.89 percent, Nasdaq Composite 1.88 percent and S&P 500 1.52 percent. Chief Investment Strategist V.K. Vijaykumar says that the Jackson Hall speech of Fed chief Jerome Powell indicates interest rates in September.
On the other hand, Siddharth Khemka, Research Chief of Motilal Oswal Financial Services Limited, says that he hopes that GST will continue to get support to Indian stock markets with optimism about 2.0 reforms and comprehensive economic strength at the domestic level. He said that globally globally, the US fee action against India, and the upcoming GDP figures of both India and America will shape the perception of investors. Last week, the BSE Sensex rose 709.19 points or 0.87 percent, while the Nifty rose 238.8 points or 0.96 percent.
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