Stock Market Outlook This Week: This week, the movement of the stock market will be determined by macroeconomic data, global trends and business activities of foreign investors. Traders said that domestic institutional investors are investing capital without stopping, due to which the stock market remained bullish last week.
expert opinion
Ajit Mishra, Senior Vice President (SVP), Research Department, Religare Broking Limited, said that many figures are expected this week, both domestically and globally. The market is entering the initial phase of quarterly results of companies. Investors in India will keep an eye on the final data of HSBC Services Purchasing Managers Index (Services PMI) and Combined PMI.
Key economic data from the US and China will be closely watched for global growth, demand and inflation trends. Last week, BSE Sensex rose 720.56 points or 0.84 percent and NSE Nifty rose 286.25 points or 1.09 percent. Nifty touched its all-time high of 26,340 on Friday.
Ponmudi R, CEO of online trading firm Enrich Money, said, the market’s focus is now on the third quarter results. Investors can selectively build their positions in major companies ahead of the results.
At the domestic level, the services and combined PMI data will provide information about business momentum and employment trends. He said that globally the focus will be on US non-agricultural payroll and unemployment data. Investors will also keep an eye on the movement of rupee against the US dollar and the global oil standard Brent crude this week.
Market expected to remain in stable range
Vinod Nair, head of research at Geojit Investments Limited, said that for the coming week, investors will focus on US payroll and unemployment data for the direction of the global market. Overall sentiment is expected to remain constructive, although markets may remain in a stable range.
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