According to economists, this week’s equity markets will be heavily influenced by developments in the monsoon and movements in global stock markets.</p> <p>The movement of the rupee versus the US dollar and the price of crude oil will also be monitored by investors.
Market observers attributed the market bounce to the US Federal Reserve’s decision not to increase interest rates, as well as to favourable global signals and foreign institutional investors (FIIs) becoming net purchasers of domestic shares.
The development of the monsoon season will be eagerly watched by the Indian market. The US market is anticipated to become more volatile during the next week on a global scale. This is as a result of Fed Chairman Powell’s approaching semi-annual speech before Congress, according to Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
According to economists, the rise in local stocks last week was sparked by a sustained rebound in global indexes, particularly in the US. The BSE benchmark increased by 758.95 points, or 1.21 percent, last week.</p> <p>According to Arvinder Singh Nanda, senior vice president of Master Capital Services Ltd, “the market will react to domestic and international cues, crude oil prices, trends in global markets, and investment by foreign institutional investors (FIIs) and domestic institutional investors (DIIs) in the coming days.”</p> <p>The 30-share BSE index soared by 466.95 points or 0.74 percent on Friday to close at a new high. On December 1 of last year, the index surpassed its previous all-time high of 63,284.19 points.
To finish at its all-time high of 18,826, the NSE Nifty increased by 137.90 points or 0.74 percent. 18,812.50 was the previous record high.</p> <p>The performance of the US markets, according to Ajit Mishra, SVP of Technical Research at Religare Broking Ltd., “will continue to play a key role going forward.”
