Share Market: The direction of the stock market will be decided by global indicators and activities of foreign investors.
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The direction of stock markets will be decided by global trends and activities of foreign investors in the upcoming week of short trading sessions. Analysts have expressed this opinion. Analysts said there may be some volatility in the market due to the settlement of monthly derivatives contracts on Thursday.
There will be only three trading sessions in the market this week. Stock markets will remain closed on Monday on the occasion of ‘Holi’ and on Friday on the occasion of ‘Good Friday’. Swastika Investmart Ltd. Santosh Meena, head of research, said, “Due to holidays, the volume of business will be less this week.
However, due to it being the last week of the financial year and settlement in the futures and options segment, there may be fluctuations in the market. Last week, the 30-share Sensex of BSE gained 188.51 points or 0.25 percent.
At the same time, Nifty of National Stock Exchange rose by 73.4 points or 0.33 percent. Siddharth Khemka, head of retail research at Motilal Oswal Financial Services, said, “This is a week of fewer trading sessions. The market may see some fluctuations due to settlement of derivative contracts.
US gross domestic product (GDP) data and other key economic data will remain important for the market. Analysts said investors will also keep an eye on global crude oil prices and the movement of the rupee against the dollar.
On Friday, the rupee fell 48 paise to close at its all-time low of 83.61 per dollar against the American currency. Earlier on December 13, 2023, the rupee had closed at an all-time low of 83.40 per dollar.
Prashant Tapse, Senior Vice President (Research), Mehta Equities Limited, said that the sharp fall in currency levels along with selling of shares by foreign institutional investors is indicating that the road ahead may be difficult for the stock markets.
Religare Broking Ltd. Ajit Mishra, senior vice president, technical research, said, “This week is a holiday and we believe that the market will remain volatile due to the settlement of derivative contracts for the month of March. Apart from this, market participants will also be influenced by the trend of global markets, especially the US market.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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