Week Ahead: US Fed Policy, crude oil prices, FII mood among key market triggers this week as Nifty stares at record-high
US Federal Reserve policy meeting outcome, foreign fund inflow, crude oil prices, global cues, and more. Domestic benchmark indices Sensex and Nifty hit their fresh record highs last week with frontline index Nifty50 breaching the psychological 20,000-mark on the back of strong macroeconomic indicators such as lower consumer price index (CPI) print, demand optimism in China, and hints of a pause in rate hike by the US Federal Reserve. The tone was positive from the beginning which strengthened further with rotational participation from the index majors across sectors.
Frontline indices Sensex closed at 67,838.63, up 320 points, or 0.47 per cent on Friday, while the Nifty settled at 20,192.35, rising 89 points, or 0.44 per cent. The indices ended at their fresh lifetime highs propelled by a rally in global markets and renewed foreign capital inflows. During the day, Sensex rallied 408.23 points or 0.60 per cent to hit its fresh all-time intra-day peak of 67,927.23, while the Nifty50 reached an all-time intraday high of 20,223.
For the week, both the Sensex and the Nifty rose almost 2 per cent each. The Sensex rose for the eleventh straight session, adding 4.64 per cent over the period, logging its longest series of daily gains since October 3, 2007. Last week, the market received support from a set of positive global cues.
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