Diwali The new Samvat 2081 has started. According to the Hindu calendar, Vikram Samvat 2080 has ended. However, the stock markets recently witnessed a decline of about 8%. In such a situation, will the market bounce back in the new Samvat from next week or will the decline continue? Market experts say that the presidential elections to be held in America on November 5, the Federal Reserve’s decision on interest rates, the activities of foreign portfolio investors (FPIs) and the quarterly results of domestic companies will decide the direction of the stock markets this week. Experts said that this week will be full of events. Many macroeconomic data are to come during the week, which will be important for the direction of the market. Apart from this, the global trend will also give direction to the market. Due to this, market fluctuations are likely to continue.
These factors will affect the market
Santosh Meena, Head of Research, Swastika Investmart Limited, said, this week is going to be eventful on the global front. Everyone’s eyes are on the US presidential election to be held on November 5. Apart from this, the meeting of the American FOMC (Federal Open Market Committee) will be important. Geopolitical pressures and crude oil prices will also influence the market. Meena said that on the domestic front, the final phase of second quarter results is going to be very important. Also, everyone’s eyes will be on the attitude of foreign institutional investors (FIIs). Palka Arora Chopra, Director, Master Capital Services Ltd. said, the market outlook will be influenced by the US Presidential Elections and HSBC India Manufacturing PMI, Services PMI, Federal Reserve’s interest rate decision, US S&P Global Composite PMI, Global Services PMI and Bank of England (BOE). Major stock exchanges BSE and NSE conducted a special one-hour ‘Muhurat trading’ on November 1 on the occasion of Diwali, which marks the beginning of the new Samvat 2081.
Investors will keep an eye on developments in the US market
Ajit Mishra, Senior Vice President (Research), Religare Broking Limited, said, this week investors will keep an eye on the developments in the US market. Especially on the presidential elections to be held on November 5 and the policy meeting of the Federal Reserve. Mishra said, on the domestic front, quarterly results of companies including Dr. Reddy’s, Titan, Tata Steel, Mahindra & Mahindra and Tata Motors will come. Also, key figures like HSBC Manufacturing PMI and Services PMI will be released, which are of great importance from the market point of view. Last month, major indices fell by more than seven per cent from their all-time highs due to sustained selling by foreign institutional investors (FIIs). VK Vijayakumar, chief investment strategist, Geojit Financial Services, said global markets will react to the US presidential elections for a few days, followed by fundamental factors like US gross domestic product (GDP) growth, inflation and the Federal Reserve’s decision on interest rates. Will affect market movements.
