The announcement of big economic data, the situation of COVID in China and global trends will determine the direction of the domestic stock market this week.
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The announcement of big economic data, the situation of COVID in China and global trends will determine the direction of the domestic stock market this week. Analysts have said that apart from this, the market will also be affected by the movement of rupee, crude oil prices and foreign investment trends. Apoorva Sheth, head of market at SAMCO Securities, said Indian markets are likely to react in line with their international counterparts. The comments of the Federal Open Market Committee (FOMC) meeting will be made public later this week.
What do the experts say?
The Purchasing Managers’ Index (PMI) data for the manufacturing sector to be announced on Monday and the data for the services sector to be announced on Wednesday will also affect trading in the equity market.
Pravesh Gaur, Senior Technical Analyst, Swastik Investmart Ltd, said that in the near future, the last budget before 2024 elections, fourth quarter results and monthly auto sales figures are the major events that will affect the market in January 2023. Apart from this, crude oil prices and rupee movement will be other important factors, he added.
This year these things will affect
Market experts are of the opinion that this year the Indian markets will be affected by domestic and global factors, including the Corona virus situation and policy initiatives in the general budget.
Let us tell you that Asia’s oldest stock exchange i.e. Bombay Stock Exchange and India’s most popular stock index i.e. BSE Sensex are now gaining ground all over the world. In the year 2022, where the Sensex broke many records, touched the all-time high level of 63,000 points. At the same time, it has become the second best performing stock index in the world, giving a tough competition to the rest of the stock index. By the way, the country’s second major stock index NSE Nifty has also raised the flag of success.
Defying all the problems faced on the economic front, the Sensex remained in plus 4.4 percent this year. At the same time, NSE Nifty is at number three in this list with a gain of 4.3 percent. Out of 20 major stock indexes of the world, only 5 have been such, which have closed in the plus mark.
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