Market Outlook: How will the stock market move this week, from global signals to economic data?

Stock Market Outlook This Week: Last week proved to be mixed for the domestic stock markets and the market cap of 5 of the top 10 Sensex companies has increased by more than Rs 80 thousand crore. The remaining 5 companies of the top 10 have suffered losses. However, experts have given their opinion on how the business week starting from Monday is going to turn out. It is worth noting that this week’s business week is going to be short because the domestic stock markets will remain closed on Tuesday due to the festival of Holi. Trading in the commodity market along with derivatives and currency market will also remain closed on this day.

How will be the condition and direction of the stock market

The direction of the stock markets will be decided this week by the global trend and the trend of foreign funds. Due to Holi holiday, the business days of the week have reduced. Analysts have expressed this opinion.

Holi holiday is on March 7 – demand to be done on March 8

BSE and National Stock Exchange have declared holiday on March 7 (Tuesday) on the occasion of Holi. However, stock brokers’ association ANMI has requested the government, stock exchanges and SEBI to give Holi holiday to March 8 instead of March 7.

Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Ltd. said, "Volatility in the Indian markets will remain amid the possibility of continuous increase in interest rates by the Federal Reserve of America, the central bank of America, to control the rising inflation. Foreign institutional investors who have remained net buyers on a smaller scale will also be under watch."

He told that globally the macroeconomic data of America is to be released on March 10, the Bank of Japan is also going to decide on the interest rates. At the same time, the data of India’s industrial production at the domestic level will also be released on March 10. Market investors will also keep an eye on the movement of the rupee against the US dollar and Brent crude oil.

What market experts say

Ajit Mishra, Vice President, Technical Research, Religare Broking Ltd. said, "Due to the festival of Holi, the business days have reduced in this week. We expect volatility to remain high amid mixed signals. Participants are waiting for the industrial production data which will be released on March 10. Apart from this, he will also keep an eye on the performance of global indices, especially the American markets."

Last week the BSE Sensex had gained 345.04 points or 0.58 per cent. Despite the high volatility, the markets closed with gains on Friday. The 30-share Sensex closed at 59,808.97, up 899.62 points, or 1.53 per cent, on Friday.

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