The meeting of the Federal Reserve will also give direction to the market.
The stock market will be open only for three days next week. Stock markets will remain closed on Thursday on the occasion of Diwali Lakshmi Puja and on Friday on the occasion of Diwali Bali Pratipada. The decision on the interest rate of the US central bank Federal Reserve, macroeconomic data on the domestic front and quarterly results of companies will decide the direction of the stock markets this week. Analysts have expressed this opinion. Apart from this, investors will also keep an eye on the vehicle sales data coming on Monday, analysts said.
Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services, said, “Because of the Diwali festival, there will be trading in the market for only three days this week.” Apart from this, the market will also get direction from the Federal Reserve meeting.” Last week, selling of foreign funds, weak global trend and mixed quarterly results affected the market sentiment.
profit-booking phase in the market
Santosh Meena, Head of Retail Research, Swastika Investmart said, “The market will be less trading days due to Diwali. The market is currently in a mood to reap profits due to the festive season.” Meena said that the week will start with the vehicle sales figures for the month of October. The market is not expecting anything big with vehicle sales figures. Apart from this, the eyes of the market will be on consumer sentiment on the occasion of Dhanteras and Diwali.
The results of these companies are coming
During the week, the quarterly results of HDFC, IRCTC, Tata Motors, Bharti Airtel, HPCL, Sun Pharma, Eicher Motors and SBI are to come.
The effect of the Federal meeting will be seen on the market
Yesha Shah, Head of Equity Research, Samco Securities, said, “While the market will see less day-to-day trading in the coming week, it will be full of developments. Mainly the market sentiment will be decided by the Federal Reserve meeting.” Shah said that apart from this, the monthly sales figures of the auto companies are also to come. “Despite the festive season, semiconductor shortages, increase in freight charges and commodity prices may affect auto companies’ margins and keep sales weak,” he said.
Sensex fell by 1514 points this week
Last week, the BSE 30-share Sensex lost 1,514.69 points or 2.49 per cent. Equity99 co-founder Rahul Sharma said a weak global trend and profit-booking in various sectors could lead to bearish trend in the market in the short term.
PMI index will indicate economic recovery
Vinod Nair, head of research, Geojit Financial Services, said the manufacturing and services PMI figures are due next week. These figures will indicate the economic revival in October.
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