Market movement will be decided by inflation data in the coming week, holiday will be a short business week
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New Delhi. The movement of the stock market in the short trading week of holidays will be determined by domestic inflation data, global trends and the attitude of foreign investors. Analysts gave this information. Markets will remain closed on Tuesday on the occasion of Diwali Balipratipada. Santosh Meena, Head of Research, Swastika Investmart Ltd, said, “We are entering a short trading week with Muhurta trading on Sunday. During this period, global signals will play an important role in shaping the market direction.
On the macroeconomic front, retail inflation data for October will be released on November 13. After this, Wholesale Price Index (WPI) data will be released on November 14. A special Muhurta trading session will be organized in the stock markets on November 12 on the occasion of Diwali. Vinod Nair, head of research at Geojit Financial Services, said the focus will be on inflation data from the US and India. Companies announcing their quarterly results this week include Grasim Industries, NMDC, PC Jeweler and MMTC.
Nair said investors will keep an eye on domestic and global macroeconomic data, global crude oil and movement of rupee against dollar, global trends, trading activity of FII (foreign institutional investors) and DII (domestic institutional investors). Last week, BSE Sensex rose 540.9 points or 0.84 per cent and Nifty rose 194.75 points or 1 per cent. During Samvat Year 2079 ended on Friday, Sensex rose 5,073.02 points or 8.47 per cent, while Nifty rose 1,694.6 points or 9.55 per cent.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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