Market movement will be decided by Fed Reserve and Economic data
The direction of the Indian stock markets can be decided this week by the interest rates of the US central bank Federal Reserve. Apart from this, the impact of macro-economic data will also be seen on the domestic front.
Ajit Mishra, vice-president-research, Religare Broking, said that the market would first respond to the data on industrial production (IIP) and inflation based on consumer price index. These figures came after the market closed on Friday. Inflation based on Wholesale Price Index is due on 15 March. Apart from this, market participants will also be watching the developments and news related to Kovid-19.
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Know expert’s opinionMishra said that on the global front, the market will keep an eye on the US Federal Reserve’s decision on interest rate and its fluctuations in bond receipts. Vinod Nair, head of research at Geojit Financial Services, said that the market would be eyeing the Federal Reserve meeting to be held on 16 and 17 March.
The effect of rupee fluctuations will also be seen
He said that apart from this, the direction of the market will also be determined by the investment trend of foreign portfolio investors, rupee fluctuations against the dollar and Brent crude oil prices.
The Fed Reserve meeting will be monitored
“All eyes are on the Federal Reserve meeting,” said Rosmic Ojha, executive vice president and head of basic research at Kotak Securities.
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Vinod Modi, strategy head of Reliance Securities, said that our view is that investors’ perception will be affected by the realization of bonds and the rise in crude oil prices. The market may fluctuate in the near future.