Last week, the BSE benchmark rose 1,239.72 points or 1.86 percent and the Nifty climbed 372.4 points or 1.87 percent. (Representative image)
Stock markets will remain closed on Tuesday due to Ganesh Chaturthi.
The Federal Reserve’s interest rate decision, global market trends and trading activity by foreign investors are the main factors that will determine stock market conditions in a week of shortened holidays, analysts said.
Stock markets will remain closed on Tuesday due to Ganesh Chaturthi.
At a global level, interest rate decisions by the Bank of England and the Bank of Japan would also influence market trends.
There will be a particular focus on monetary policy this week as Federal Reserve policymakers will convene the latest Federal Open Market Committee (FOMC) meeting and make a rate decision on Wednesday, September 20, said Pravesh Gour, senior Technical Analyst at Swastika Investmart Ltd.
“Rupee performance against the dollar, US bond yields and crude oil prices will remain in focus,” Gour added.
Last week, the BSE benchmark rose 1,239.72 points or 1.86 percent and the Nifty climbed 372.4 points or 1.87 percent.
The 30-share BSE Sensex rallied for the 11th consecutive session on Friday, jumping 319.63 points or 0.47 per cent to a record close of 67,838.63. During the day it rose by 408.23 points or 0.60 percent and reached its new all-time intraday high of 67,927.23.
The Nifty rose 89.25 points or 0.44 percent to close at its all-time high of 20,192.35. During the day it rose by 119.35 points or 0.59 percent and reached its daily high of 20,222.45.
Vinod Nair, head of research at Geojit Financial Services, said: “Investors are now focused on upcoming data releases and central bank meetings scheduled for this week, including decisions from the US Federal Reserve, BoE (Bank of England) and BoJ (Bank of England). ). Japan).” Investors would also focus on the performance of the global oil benchmark Brent crude and the rupee.
“In the coming days, the market may react to some important macroeconomic data such as the US S&P Global Manufacturing and Services PMI, initial jobless claims, crude oil inventories, FOMC statement, Fed interest rate decision, UK inflation and inflation in the Eurozone,” said Arvinder Singh Nanda. said the Senior Vice President of Master Capital Services Ltd.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI.) Namit Singh SengarNamit is a Senior Sub Editor in the Business section of News18.com. With over five years of experience, he covers the areas of personal finance, brands and business…Read more
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