foreign investors (FII) trading activities and global trends will be the main drivers of the upcoming stock markets. Major stock markets, BSE and NSE, have declared a trading holiday on November 20 in view of the assembly elections in Maharashtra. Elections to 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 at Swastika Investmart Limited, said, “The Indian stock market will remain closed on Wednesday, November 20 due to the Maharashtra Assembly elections. “Key global economic indicators including election results, US bond yields, dollar index performance, US jobless claims, latest manufacturing and services PMI data and Japan inflation data , will be important in determining the direction of the market.”
The FII’s position is important
“Higher US bond yields and post-election dollar strength have impacted emerging markets like India and FII (foreign institutional investors) activity remains a key factor that could impact Indian stocks in the near term.” “, said. Experts said the movement of global oil benchmark Brent crude and the rupee-dollar trend 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 be on FII inflows,” said Ajit Mishra, senior vice president of research at Religare Broking Ltd. Foreign institutional investors have been selling continuously for the last month and a half. In addition, traders will closely monitor global market trends.”
There was a big drop last week.
Last week, the BSE benchmark Sensex fell 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 with a massive decline of 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 all-time high. On September 27 this year, Sensex hit its all-time high of 85,978.25 and on the same day, NSE Nifty also hit its all-time high of 26,277.35. The sharp decline in benchmark indices was due to the flight of foreign investors from the domestic market, weak second quarter earnings and high equity valuations.
Latest business news
