Ahead of Market: 10 things that will decide stock market action on Monday
Nifty 50 extending its longest monthly losing streak since 1996 amid growing concerns over domestic market conditions.
The benchmark BSE Sensex lost 1414.33 points or 1.90% to close at 73,198.10, while the broader Nifty 50 index closed at 22,124.70, lower by 420.35 points or 1.86%.
Here's how analysts read the market pulse:
The national market experienced a sharp decline amid heightened bearish sentiment largely influenced by weak global cues, said Vinod Nair, Head of Research at Geojit Financial Services, adding that the decline was largely triggered on fear of the implementation of 25% tariff on U.S. imports from Canada and Mexico, set to take effect next week, along with an additional 10% tariff on Chinese goods.
“Adding to market jitters, the potential imposition of tariffs on the European Union has further fuelled uncertainty. As investors navigate this volatility, all eyes are on the domestic Q3 GDP data, which could provide vital insights into the economic recovery trajectory and influence market direction," Nair added.
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