Market Outlook: Last week, the 30-share BSE Sensex gained 1,346.5 points or 1.62 percent, while the NSE Nifty also gained 417.75 points or 1.64 percent. According to experts, the direction of local stock markets will be decided by domestic PMI data, details of the US Federal Reserve meeting and progress in India-US trade agreement talks in the week starting November 17.
According to analysts, apart from this, trade activities of foreign investors will also affect the trend of the stock market. “The market direction will depend on some macro economic indicators, such as India’s PMI data, US unemployment claims data, details of the Federal Open Market Committee (FMOC) meeting, and progress in India-US trade talks,” he said.
“A prudent approach would be to focus on sectors with strong fundamentals, clear earnings visibility and structural tailwinds, positioning the portfolio for potential upgrades in the second half of FY2025-26,” said Vinod Nair, head of research, Geojit Investments Ltd.
Last week, the BSE Sensex rose 1,346.5 points or 1.62 per cent, while the NSE Nifty gained 417.75 points or 1.64 per cent.
“Indian equities ended the week on a strong note, with benchmark indices leading gains on resolution of the US government shutdown, supported by strong domestic fundamentals, better-than-expected Q2 earnings and declining inflation,” he said.
“Capital market equities also remained active, supported by strong retail participation, increase in SIP inflows and enthusiasm for recent and upcoming IPOs,” said Siddharth Khemka, Head of Research (Wealth Management), Motilal Oswal Financial Services.
He further said that the Indian stock markets are likely to continue their uptrend this week, which will be supported by strong domestic macroeconomic data, good quarterly results and a strong election mandate for the ruling National Democratic Alliance (NDA) in Bihar, which will strengthen political stability at the Centre.
Ajit Mishra, Senior Vice President (Research), Religare Broking Ltd, said that after the recent weakness, the markets bounced strongly during the week and finally closed with gains.
