Suspense Crime Sach Ka Dam
New Samvat 2081 has started from Diwali. According to the Hindu calendar, Vikram Samvat 2080 has ended. However, the stock markets recently saw a decline of about 8%. In such a situation, will the market return to boom in the new Samvat from next week, or will the decline continue? Market experts say that the presidential elections to be held in the US 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 determine the direction of the stock markets this week. Experts said that this week will be full of many 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, fluctuations in the market are likely to continue.
These factors will affect the market.
Santosh Meena, Head of Research, at Swastika Investment Ltd, said, “This week is going to be eventful on the global front. All eyes are on the US Presidential election to be held on November 5. Apart from this, the meeting of the US FOMC (Federal Open Market Committee) will be important. Geopolitical pressure and crude oil prices will also affect the market. Meena said that on the domestic front, the final phase of the second quarter results is going to be very important. Also, all eyes will be on the stance of foreign institutional investors (FIIs). Palka Arora Chopra, Director, Master Capital Services Ltd, said, “The market scenario will take direction from the US Presidential election and HSBC India Manufacturing PMI, Service PMI, Federal Reserve’s interest rate decision, US S&P Global Composite PMI, Global Service PMI and Bank of England’s (BOE) interest rate decision.” Major stock exchanges BSE and NSE organized a special one-hour ‘Muhurat trading’ on the occasion of Diwali on November 1, which marks the beginning of the new Samvat 2081.
Investors will keep an eye on developments in the US market.
Religare Broking Limited Senior Vice President (Research) Ajit Mishra said, this week investors will keep an eye on the developments in the US market. Especially on the presidential election to be held on November 5 and the Federal Reserve’s policy meeting. Mishra said, on the domestic front, quarterly results of companies including Dr. Reddy’s, Titan, Tata Steel, Mahindra & Mahindra, and Tata Motors will come. Along with this, key data like HSBC manufacturing PMI and service PMI will be released, which are very important from the market point of view. Last month, the major indices fell more than seven percent from their all-time high due to continuous selling by foreign institutional investors (FIIs). VK Vijaykumar, Chief Investment Strategist, Geojit Financial Services said, global markets will react to the US presidential elections for a few days, after which fundamental factors like US gross domestic product (GDP) growth, inflation, and Federal Reserve’s decision on interest rates will affect the market movement.
