FOMC, FII action among 10 factors to impact D-Street movement this week

economictimes.indiatimes.com:

Nifty ended with weekly declines of 2.1% amid massive selling in state-owned company stocks along with energy, realty and financial stocks. However, the IT pack ended with weekly gains. When markets resume trading on Monday, a host of important domestic and global events lined-up during the holiday-truncated week are likely to impact them.
«The upcoming week will place a significant focus on monetary policy, as the Fed will begin its two-day policy meeting on March 19. The US Federal Reserve (FED) will announce its interest rate decision after its two-day policy meeting on March 20, 2024. According to reports, the US Federal Reserve will leave its benchmark overnight interest rate unchanged,» Pravesh Gour, Senior Technical Analyst at Swastika Investmart said.

Factors that are likely to impact movement when markets reopen this week:
1) FOMC
The rate setting committee of the US Federal Reserve – the Federal Open Market Committee (FOMC) will assemble on March 19, 2024, Tuesday to decide on policy rates giving a direction on the economy and inflation. Street would be keenly watching the commentary on the timing of the interest rate cuts.

2) US Markets
Handover from the US markets was strong with major headline indices on the Wall Street ending higher on Friday. While Dow 30 ended at 38,905.70, down by 137.66 or 0.35%, S&P 500 settled at 5,150.48, lower by 14.83 points or 0.29%. Meanwhile, Nasdaq Composite declined by over 49.24 points or 0.30% to end at 16,128.50 on Friday.

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