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Market Outlook Next Week: Analysts say that next week the direction of the stock market will be decided by global trends, activities of foreign investors and economic data.
Market Outlook Next Week: Last week, the 30-share BSE Sensex rose 669.14 points or 0.79 percent. Whereas Nifty gained 158.1 points or 0.61 percent. According to experts, the direction of local stock markets will be decided by economic data, global trends and the attitude of foreign investors in the week starting from November 24.
Ajit Mishra, Senior VP (Research), Religare Broking Limited, said, “Volatility may increase this week ahead of the futures deals ending in November. Domestically, the market will keep an eye on big economic data like second quarter GDP data and industrial production. At the global level, investors will keep an eye on the performance of the US market and key economic data there. These signals will determine the risk sentiment in the near future and will influence foreign capital flows.”
Vinod Nair, Head of Research, Geojit Financial Services, said, “If the pressure on the rupee continues, then some profit-booking may be seen in the market in the near future. Investors will keep a close eye on business developments, IIP and GDP data in the coming week.”
Expectation of rise in stock market
Investors will also keep a close eye on the fluctuations in Brent crude oil prices and the rupee-dollar exchange rate. Siddharth Khemka, Research Head (Wealth Management), Motilal Oswal Financial Services, said, “Overall, we expect the markets to remain strong this week. Buying on dips, signs of better demand in the third quarter and continued capital inflows will support the markets. Any positive progress in the India-US trade talk will be a big catalyst for the markets in the near future.”
