Jackson Hole, FII action, IPOs and 5 more factors to impact D-Street movement this week
Nifty managed to end with 1% gains in the holiday-shortened week, led by IT and consumer durables. 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.
On Friday, Nifty ended with an uptick of 400 points or 1.7% at 24,541.
«The Indian equity indices, Nifty50 and Sensex, reversed their downward trend this week, ending a two-week losing streak to close in positive territory. The rally in the benchmark indices was driven by a confluence of factors, including strong US economic data, easing inflation in India, and stability in the Japanese yen,» Palka Arora Chopra, Director of Master Capital Services said.
Factors that are likely to impact movement when markets reopen this week:
US Markets
Global cues are expected to remain a dominant force, especially those coming from the US.
For the week, the S&P 500 rose 3.9%, the Dow rose by 2.9% and the Nasdaq Composite climbed by 5.3% as US’s lower inflation numbers lifted the mood on Wall Street.
While the Dow 30 settled at 40,659.80, up by 96.70 or 0.24%, the S&P 500 closed at 5,554.25, higher by 11.03 points or 0.20%. The Nasdaq Composite finished at 17,631.70, down by 37.22 points or 0.21%.
Rupee Vs Dollar
The rupee moved in a tight range and settled just 1 paisa lower at 83.95 against the USD on Friday, as the support from a rally in domestic equities and weak greenback was negated by geopolitical tensions in the Middle East. At the interbank foreign exchange, the
