Inflation data, global market will decide the condition of the stock market this week, investors should keep these things in mind
The movement of the stock market this week will depend on activities like inflation data, performance in global markets and transactions in foreign funds.
The movement of the stock market this week will depend on activities like inflation data, performance in global markets and transactions in foreign funds.
Analysts say that the movement of the stock market this week will depend on the movement of inflation data, performance in global markets and transactions in foreign funds. The domestic stock market closed on a firm footing on Friday amid buying by foreign investors and a rise in global markets. The 30-share BSE Sensex closed 1,181.34 points or 1.95 per cent higher at 61,795.04 on Friday and has crossed its previous high of 61,765.59 points on October 18, 2021.
What do experts say?
Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Limited said that the performance in the world’s stock markets will have an impact on the domestic market as well. He told that investors will keep an eye on our domestic inflation data.
At the same time, Ajit Mishra, Research Vice President, Religare Broking Limited said that investors will be watching inflation based on important macroeconomic data – Consumer Price Index (CPI) and Wholesale Price Index (WPI). Along with this, he said that the performance of global markets and the trend of inflows of foreign investors will also decide the movement of the market.
Apart from this, let us tell you that the market capitalization of nine out of the top 10 companies has increased by more than Rs 2.12 lakh crore last week. During this, the biggest increase has been in the market capitalization of HDFC Bank and TCS. At the same time, Mukesh Ambani’s Reliance Industries (RIL) has increased by Rs 26,317.30 crore to Rs 17,80,206.22 crore. Last week, the BSE Sensex based on 30 stocks has gained 844.68 points or 1.38 percent.
At the same time, foreign investors have continued their positive stance on Indian equities. Foreign investors (FPIs) have so far invested around Rs 19,000 crore in the Indian equity markets in the month of November. Behind this has been the softening of inflation in the US and the weakening of the dollar’s strength. Data from the depositories shows that November saw two consecutive months of withdrawals before the foreign investor turned favourable. Foreign investors made a net withdrawal of Rs 7,624 crore from Indian markets in September and Rs 8 crore in October.
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