FII activity, L&T share buyback among top 10 factors to impact D-Street mood this week
Sensex and Nifty50 ended the week on strong footing hitting new all-time highs with PSU Banks, auto and IT stocks leading the gains. Amid a host of important domestic and global events lined up during this week.
Here's what lies ahead of the holiday-shortened stock market week.
Indian markets will remain shut for trading on Tuesday, September 19 on account of the Ganesh Chaturthi Festival.
«Nifty and Sensex scaled fresh lifetime highs this week. Benchmark indices advanced for a third week in a row on a weekly basis.
IT and Bank gained the most this week whereas Media and Realty dropped the most,» Arvinder Singh Nanda, Senior Vice President at Master Capital Services said.
In the coming days, the market may react to some major macroeconomic data such as US S&P Global manufacturing and services PMI, initial jobless claims, building permits, crude oil inventories, existing home sales, FOMC policy outcomes, UK and Eurozone inflation, among others, Nanda said.
Factors that are likely to impact movement when markets reopen this week:
1)Central Bank Policy Outcomes
Street will be keeping a close watch on the developments around the Federal Reserve’s Federal Open Market Committee’s (FOMC) monetary policy outcomes on September 20. The Bank of England and Bank of Japan will also meet to make decisions on interest rates during the week.
2)US Markets
US markets fell sharply amid selling pressure in the technology and consumer stocks as inflation worries and treasury yields weighed on Wall Street.
While Dow 30 fell by 288.87 points or 0.83% to 34,618.20, the S&P 500 closed at 4,450.32, down by 54.78 points or 1.22%. Meanwhile, the Nasdaq Composite settled 217.72 points or 1.56% lower at 13,708.30.
When Indian markets reopen on Monday,
