Equity benchmark indices Sensex and Nifty on Friday reversed their six-session shedding streak and rebounded greater than 1 per cent.
In a vacation-shortened final week, the BSE benchmark tanked 1,614.82 factors or 2.46 per cent.
The US Federal Reserve’s rate of interest determination, world cues, macroeconomic knowledge bulletins and the continued quarterly earnings are the most important triggers that may dictate traits in inventory markets this week, analysts stated.
Besides, the buying and selling exercise of overseas traders and the motion of world oil benchmark Brent crude may also be tracked.
“All eyes are on the outcome of the US Federal Reserve meeting scheduled for November 1, particularly due to the multi-year high levels of the US bond yields. Additionally, the policy decisions of the Bank of Japan will be closely watched.
“Beyond these key events, global factors will also play a crucial role. Economic data releases from the US and China, as well as the ever-changing geopolitical situation, will influence market sentiment,” stated Santosh Meena, Head of Research, Swastika Investmart Ltd.
Among companies to announce their earnings this week are Adani Green Energy, DLF, TVS Motor Company, Bharti Airtel, GAIL, Hero MotoCorp, Tata Steel, Adani Enterprises, Tata Motors, InterGlobe Aviation and MRF.
On the house entrance, there might be a flurry of Q2 company earnings studies, offering beneficial insights into the monetary well being of home corporations.
Monthly auto gross sales figures are anticipated to attract consideration, significantly as a result of they’ll mirror the demand throughout the Dussehra pageant season, he added.
“Market will react to major domestic and global economic events such as India’s S&P Global manufacturing and services PMI (Purchasing Managers’ Index), China manufacturing and non-manufacturing PMI, Eurozone inflation and GDP data, crude oil inventories, UK manufacturing PMI, US manufacturing and services PMI, initial jobless claims, non-farm payrolls, unemployment rate and the Fed interest rate decision,” Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd, stated.
In a vacation-shortened final week, the BSE benchmark tanked 1,614.82 factors or 2.46 per cent.
Continuous weak spot on the worldwide entrance is weighing on the sentiment, Ajit Mishra, SVP – Technical Research, Religare Broking Ltd, stated.
Equity benchmark indices Sensex and Nifty on Friday reversed their six-session shedding streak and rebounded greater than 1 per cent.
“Despite the strong rebound, we suspect the benchmarks are not out of the woods yet. For markets to remain buoyant, some resolution is needed between the ongoing Israel-Hamas war,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, stated.
(This story has not been edited by News18 employees and is revealed from a syndicated information company feed – PTI)
