Market Outlook: The ups and downs in the stock market this week will depend on many things. This includes economic data from India and the world, the results of companies for the September quarter, buying and selling by foreign investors, and global trends.
Santosh Meena, Research Head of Swastika Investment, said that inflation (CPI) and industrial production (IIP) data will be released in India on November 12, while wholesale inflation (WPI) data will come on November 14. Apart from this, the US inflation report will also come on November 13, which can affect the economic policy there. All these figures will play an important role in the direction of the market.
This week, quarterly results of big companies like Bank of India, BEML, Hindalco, ONGC, Apollo Tyres, and Brainbees will also be announced, which may impact the market.
According to experts, the situation of US bonds and the dollar can have an impact on emerging markets like India. Apart from this, crude oil prices and rupee-dollar exchange rates will also affect the market movement.
Palka Arora Chopra, Director, Master Capital Services, said that India's inflation and industrial production data, as well as key economic data from the US, UK, and China, will also influence the market direction.
Last week, the BSE Sensex had fallen by 237.8 points and the Nifty had fallen by 156.15 points.
VK Vijaykumar of Geojit Financial Services said that the reason for the weakness in the market is the continuous selling by foreign investors, which is continuing this month as well. At the same time, Siddharth Khemka of Motilal Oswal Financial Services said that due to mixed global factors and weak quarterly results, volatility may continue in the market.
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