New Delhi: The direction of the stock markets will be decided this week by inflation data and global cues. Market expert said that there is positivity in the market at this time. This is supported by better economic data and quarterly results of companies. However, some profit-booking can also be seen in the market amid high valuations. Last week, BSE’s 30-share Sensex was up by 175.12 points or 0.30 per cent.
Santosh Meena, Head of Research, Swastika Investmart said, “Global signals will continue to influence our market behaviour. Some macroeconomic data such as China’s industrial output and US inflation are due this week. On the domestic front, the WPI inflation data for the month of August is due on September 14.
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Keep an eye on global signals
Siddharth Khemka, head of retail research, Motilal Oswal Financial Services, said that the cases of the delta variant are on the rise. Due to this, there is a possibility of economic slowdown. In such a situation, the eyes of investors will be on global indicators. He said that the evaluation has also crossed the satisfactory level. In such a situation, volatility and profit-booking can be seen in the market. However, the overall sentiment of the market is positive.
Know what is the opinion of experts
The market will also get direction from the movement of rupee against the dollar, the price of Brent crude oil and the attitude of foreign investors. Vinod Nair, Head of Research, Geojit Financial Services, said, “Inflation data will be important from the market point of view this week.” A note by Samco Securities said that the market is strongly bullish. In such a situation, some ‘obstacles’ can also be seen this week.
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Nair said that the Indian markets could not sustain the bullish trend recorded during the week of August 30 to September 3. The market remained volatile due to a weak global trend. Vinod Modi, Head of Strategy, Reliance Securities, said that after record highs, there is some ‘fatigue’ in the domestic markets.
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