The domestic stock market remained bullish for the second consecutive week. However, there may be turmoil in the market in the coming days. Many factors affecting the market are going to dominate during the new week.
The market was like this last week
On the last day of last week, Friday, February 23, the Sensex was marginally down by 15.45 points (0.021 Percent) fell and closed at 73,142.80 points. Whereas Nifty stood at 22,212.70 points with a slight loss of 4.75 points (0.021 percent). During the entire week, the Sensex strengthened by 815.48 points or 1.13 percent. Nifty also increased by 140.95 points or 0.64 percent. In the previous week, both the indexes had increased by more than 1 percent each. Sensex has strengthened by about 1700 points in the last 2 weeks.
Nifty50 made records every day
The market remained volatile during the last week. The market showed bullish momentum in the initial days of the week, but slowed down towards the end. However, Nifty50 was successful in touching new high levels every day. The rally of tech stocks in the American market strengthened the tech stocks in the domestic market as well. Sector-wise, FMCG and metal remained at the forefront. Small cap and mid cap gained only 0.12 percent and 0.30 percent respectively.
Factors influencing on the domestic front
The impact of elections may start being visible on the market in the new week. Is. After the next one or two months in the country Lok Sabha elections may be held. Before that, the election atmosphere has started to develop and the distribution of seats among the alliances has started being announced. The week is also going to be important in terms of economic data. GDP figures for the third quarter are going to come on 29th February. On the last day of the week, on March 1, vehicle companies will release sales figures. F&O expiry, calibration of MSCI index and 6 new IPOs being launched during the week can also have an impact.
These foreign factors can also have an impact
Foreign investors became sellers. Has happened. He made net sales in 3 out of five sessions last week. In the entire week, FPIs sold about Rs 2 thousand crores. Foreign investors can adopt the same approach in future also. In America too, many economic figures including GDP are going to be released during the week. Crude oil prices softened last week, while the dollar also weakened a bit. The market may also be affected by the further trend of dollar and crude oil.
Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. ABPLive.com never advises anyone to invest any money.
Get more latest business news updates