Share Market Next Week: The direction of the stock market this week will be decided by macroeconomic data, September quarter results, global trends, and the attitude of foreign investors. Analysts said this. The stock market will remain closed on Friday on the occasion of Guru Nanak Jayanti.
Santosh Meena, Head of Research, Swastika Investment Ltd, said, "CPI and IIP data will be released in India on November 12, while WPI data may come on November 14. Globally, the inflation report will be released in the US on November 13, which may influence the upcoming policy stance of the Federal Reserve.
Meena said that after major global events and second-quarter results, the market's focus will be on key macroeconomic data. Quarterly results of Bank of India, BEML, Hindalco Industries, ONGC, Apollo Tires, and Brainbees Solutions will be announced this week. He said that the performance of US bond yields and the dollar index will be important for emerging markets like India. Analysts said that the market will also be affected by fluctuations in global oil benchmark Brent crude and rupee-dollar exchange rate.
Palka Arora Chopra, Director, Master Capital Services Ltd, said, "The market trend will be influenced by India's CPI, industrial production, manufacturing output, and WPI inflation data as well as US CPI, core CPI, initial unemployment claims, UK GDP data, and China's industrial production data."
Last week, the BSE Sensex fell 237.8 points or 0.29 percent, and the Nifty fell 156.15 points or 0.64 percentat .
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, "The main reason for the weakness in the Indian market is the continuous selling by FIIs, which has continued this month as well."
Siddharth Khemka, Head of Research, Motilal Oswal Financial Services Ltd, said market volatility is expected to continue due to mixed global factors and weak quarterly results.
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