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Stock Market Outlook For Coming Week: If we look at the last week of the Indian stock market, it has seen business with great momentum. Last week, out of the top 10 companies in the market, the market cap of 9 companies has increased by Rs 2.12 lakh crore. At the same time, the new business week starting tomorrow is also expected to be good. Stock market experts say that the movement of the stock market this week will depend on activities like inflation data in the country, performance in global markets and transactions in foreign funds.
How was the stock market closed last week?
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 at 61,795 on Friday, up 1,181.34 points or 1.95 per cent. It had crossed its previous high of 61,765.59 on October 18, 2021.
What do market experts say on the movement of the market
Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Limited, said that ‘the performance in the stock markets of the world will have an impact on the domestic market as well. Investors will keep an eye on the retail and wholesale inflation data of our domestic market.
The performance of the global market will also affect the domestic market
At the same time, Ajit Mishra, Research Vice President, Religare Broking Limited said, “Investors will be eyeing inflation based on important macroeconomic data such as Consumer Price Index (CPI) and Wholesale Price Index (WPI).” Along with this, he said that the performance of the global market and the trend of flow of foreign investors will also decide the movement of the market.
News Reels
RBI governor has expressed confidence of 7 percent inflation rate
In a program on Saturday, Reserve Bank Governor Shaktikanta Das has expressed confidence that the inflation rate of October will see a level of 7 percent. Both the RBI and the government are working together to deal with the issue of inflation effectively and its results will be visible. For your information, let us tell you that on November 3, the Reserve Bank of India had called a meeting of its Off-Cycle Monetary Policy Committee, in which the issue of inflation was discussed and the government was informed about it.
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