foreign investors (FII) trading activities and global trends will be the major driving factors for the upcoming stock markets. Major stock markets BSE and NSE have declared trading holiday on November 20 for the assembly elections in Maharashtra. Elections for the 288-member Maharashtra Assembly will be held on November 20 and counting of votes will take place on November 23. Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Limited, said, “The Indian stock market will remain closed on Wednesday, November 20 due to Maharashtra Assembly elections. “Key global economic indicators including election results, US bond yields, dollar index performance, US unemployment claims, latest manufacturing and services PMI data and Japan’s inflation data will be important in shaping the market direction.”
FII’s stance is important
“Higher bond yields in the US and post-election dollar strength have impacted emerging markets like India and FII (foreign institutional investor) activity remains a key factor that could impact Indian equities in the near term,” he said. Has been.” Experts said the movement of global oil benchmark Brent crude and the trend of rupee-dollar will also affect trading in the market. “This week is also short due to holidays, and with the earnings session almost over, the focus will again shift to FII inflows,” said Ajit Mishra, senior vice-president-research, Religare Broking Ltd. Foreign institutional investors have been selling continuously for the last one and a half month. Additionally, traders will keep a close eye on global market trends.”
There was a big decline last week
Last week, the BSE benchmark index Sensex fell by 1,906.01 points or 2.39 per cent. Stock markets remained closed on Friday on the occasion of Guru Nanak Jayanti. The BSE benchmark index closed down a massive 8,397.94 points or 9.76 per cent from its all-time high and the Nifty also fell 2,744.65 points or 10.44 per cent from its record high. On September 27 this year, Sensex reached its record peak of 85,978.25 and on the same day, NSE Nifty also reached its record high of 26,277.35. The sharp fall in benchmark indices was due to foreign investors fleeing the domestic market, weak second-quarter earnings and high valuations of equities.
