New Delhi:
Decisions, global trends, events related to fees and foreign portfolio investors (FPI) activities will decide the direction of the local stock market this week. Analysts have expressed this opinion. Between the announcement of economic data, the bulk price index based inflation figures for February will come on Monday. Vinod Nair, the research head of Jijit Financial Services, said, “The constant uncertainty on global trade and the possibility of recession in the US is affecting the speed of the local market. This attitude will continue.
Vinod Nair said, ‘However, the decrease in evaluation after the recent’ correction ‘, as well as the fall in crude oil prices, softening in the dollar index and the hope of bounce in the income of domestic companies in the coming quarters can curb market fluctuations. However, uncertainty about existing trade remains intact. This week, China’s retail sales and industrial production figures will present a clear picture regarding the economic growth rate there. He said that apart from this, investors will also be eyeing the data of retail sales and production of American.
Also, during the week, Bank of England will also announce a decision on the interest rate. Everyone will keep an eye on this too. Last week, the perception of investors was affected due to increasing tension over global trade and the possibility of recession in the US. Head of Motilal Oswal Financial Services- Research, Estate Management Siddharth Khemka said, ‘This week, we estimate that the market will be in limited scope with some ups and downs. The market direction will be determined by global trend and American duty policies.
Last week, the 30 -share Sensex declined by 503.67 points or 0.67 percent during the low -business sessions due to the holidays. While the National Stock Exchange’s Nifty was in a loss of 155.21 points or 0.68 percent. Prashant Tapse, Senior Vice President (Research), Mehta Equalies Limited, said, “Investor Donald Trump is concerned about the possibility of the administration levying the fees on Indian goods and its total impact. In such a situation, there is a possibility of negative attitude for some more time.