Amidst adverse conditions, the domestic market managed to gain momentum last week also. In this way the market closed in profit for the second consecutive week. However, the rise in the domestic market has been marginal during both the weeks. Now the new week is starting tomorrow from Monday. During this period, new challenges are going to emerge before the market. Let us know how the new week can be for the market…
Last week has been like this
First of all, if we talk about last week, during this period BSE Sensex fell by 550 points. However, on Friday, the last day of the week, the Sensex fell by 125.65 points or 0.19 percent and closed at 66,282.74 points. Similarly, Nifty had fallen 42.95 points and closed at 19,751.05 points on Friday. During the week, Nifty had gained 245 points or about 1.25 percent.
Before that, during the week ending October 6, Sensex had gained about 315 points or 0.48 percent, while Nifty had gained 0.45 percent. There was a profit of percent. With that the two consecutive weeks of market decline had stopped. A decline was recorded in the domestic market during the last two weeks of September.
Factors influencing the market
Now if we look at the new week starting from October 16, during this Many factors can affect the market. First of all, the quarterly results of companies will impact the market. IT companies have started the season worse than expected, the impact of which is visible on the market. The market will also be affected by the continuing war between Israel and Hamas. Due to the war, crude oil has crossed 90 dollars per barrel, while FPIs have sold about Rs 10 thousand crore in the last two weeks.
Their impact on the domestic front
On the domestic front also, many factors can affect the market during the new week. The minutes of the recent Monetary Policy Committee meeting of the Reserve Bank are going to be released during the new week on October 19. Wholesale inflation figures are going to be released on October 16, the first day of the week. Wholesale inflation was less than zero for the fifth consecutive time during the month of August.
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