The interim budget has been presented and after that the new week is about to start. During the last week, the market remained sluggish on the budget day. However, good growth was recorded in the post-budget session. The overall week was not only strong but also turned out to be the best week for the domestic stock market in 2024.
The best week of the year
Last week's final trading On February 2 (Friday), BSE Sensex closed at 72,085.63 points with a rise of 440.34 points or 0.61 percent. On the other hand, NSE's Nifty 50 stood at 21,853.80 points on Friday with a gain of 156.35 points or 0.72 percent. During the entire week, Sensex rose by 1,384.96 points (1.95 percent) and Nifty rose by 501.2 points (2.34 percent).
Market fell on the budget day
Market fell on the budget day. The move was not good. When Finance Minister Nirmala Sitharaman was presenting the budget in Parliament on Thursday, February 1, the domestic stock market was moving in a limited range. At the end of trading on the budget day, Sensex was down 106.81 points and Nifty was down 28.25 points.
Break on 2 consecutive weeks of decline
After two consecutive weeks of decline in the market last week. There was a recovery in the market. Before that, during the week ending January 25, the Sensex had fallen by 982.56 points or 1.37 percent, while the Nifty had lost 269.8 points or 1.24 percent. Before that, in the week ending January 20, the Sensex had fallen by 1,144.8 points or 1.57 percent, while the Nifty had fallen by 323 points.
RBI policy meeting
Now on February 5. The biggest factor influencing the market in the week starting from 2017 is RBI's MPC. The first meeting of this year and the last meeting of the current financial year of the Monetary Policy Committee of the Reserve Bank is starting from 6 February. The results of the meeting will be revealed on February 8.
The results of these companies will be revealed
Apart from this, the quarterly results of the companies can also impact the market movements. During the week, December quarter financial results of many companies including Apollo Hospitals, Bharti Airtel, Britannia, Power Grid, Nestle, Lupine, Grasim, Ashok Leyland, LIC, Apollo Tyres, IRFC, Tata Power are going to be released.
Impact of these external factors
The market may also be affected by the attitude of FPIs, who are selling this year. However, FPIs have made purchases in the last two days. At the same time, factors like foreign market trends, position of rupee against dollar and fluctuations in crude oil can also affect the market.
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