FII action, Jio Financial listing among top 10 factors to dictate D-Street mood this week

economictimes.indiatimes.com:

«For the first time in 15 months, the Indian equity market fell for the fourth week in a row. Sensex, Nifty, and Nifty Bank fell nearly 1% each with 31 Nifty stocks recording losses. This can be attributed to profit booking in the Nifty metal sector and selling activity by foreign institutional investors (FIIs).

An intriguing aspect is that, despite this downturn, the midcap and smallcap markets have maintained a bullish sentiment throughout this period,» Pravesh Gour, Senior Technical Analyst, Swastika Investmart said. Macroeconomic indicators, trends in global stock markets, and Foreign Institutional Investors' (FIIs) activities will be pivotal in shaping market trends in the coming days, Gour said, while highlighting the movement of rupee against the dollar along with the listing of Jio Financial Services on Monday, August 21. Factors that are likely to impact movement when markets reopen this week:US MarketsBenchmark indices on Wall Street ended lackluster on Friday as inflationary concerns and length of high interest rate regime weighed on investor sentiment.

Dow 30 ended at 34,500.70, up by 25.83 points 0.07% while S&P 500 closed at 4,369.71, lower by 0.65 points or 0.01%, Nasdaq Composite shut at 13,290.80, witnessing a 26.16 points 0.20% decline. When Indian markets reopen on Monday, they will take cues from the Friday closing of the US markets. They will also track movement in Dow Futures and GIFT Nifty futures on Monday.