The direction of the domestic stock markets this week will depend on the inflation data, the stance of vaccination and the opening of the economy after the curbs.
New Delhi: The direction of the domestic stock markets this week will depend on the inflation data, the stance of vaccination and the opening of the economy after the curbs. Analysts have expressed this opinion. Market participants will also await the monetary policy review of the US central bank, the Federal Reserve.
Vinod Nair, Head of Research, Geojit Financial Services, said, “The inflation data for the month of May will be the major catalyst for the domestic market this week. On the global front, investors’ eyes will be on the Federal Reserve’s stance. The market is expecting the US central bank to continue with its stimulus measures.
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Know what is the opinion of experts?Nirali Shah, Head of Equity Research, Samco Securities said that the market will remain volatile this week due to the US FOMC meeting. Last week, the 30-share BSE Sensex was up 374.71 points or 0.71 percent. On Friday, the Sensex touched its all-time high of 52,641.53 points. Sumit Bagadia, Executive Director, Choice Broking said, “Investors will be watching the economic data and developments related to Kovid-19.”
Shivani Sirkar Kurian, Senior EVP and Head of Equity Research, Kotak Mahindra Asset Management Company, said, “The momentum will be driven primarily by the pace of vaccination and opening up of the economy. Apart from this, investors will also be watching the liquidity situation at the global level and the attitude of central banks.
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Analysts said that at the same time, Brent crude oil prices, rupee volatility and foreign institutional investors’ attitude will also decide the direction of the market. Kotak Securities Executive Vice President Equity Technical Research Shrikant Chauhan said, “In the coming weeks, the market will be watching the progress of monsoon, new cases of infection and easing of curbs.”