Market This Week: The month of December is going on and in the beginning of the new month only good signs have come out for the Indian market. The past week has proved to be bouncy for the Indian stock market with tremendous speed. This week also signals are important for the stock market as RBI will announce the results of its monetary policy.
New business week will start from tomorrow, know which signals will be monitored
The decision on the interest rates of the Reserve Bank of India will mainly decide the direction of the local stock markets this week. Economic experts have expressed this opinion. He says that apart from this, global trends and activities of foreign funds will also give direction to the market. Market investors will also keep an eye on the results of state assembly elections during the week.
Know the opinion of market experts
Santosh Meena, Head of Research, Swastika Investmart Ltd said, “Markets will remain volatile due to global cues. However, market participants will be watching domestic indicators such as the outcome of the Reserve Bank’s Monetary Policy Committee (MPC) meeting and Gujarat and Gujarat. It will also depend on the results of the Himachal Pradesh assembly elections. The results of the assembly elections will come on December 8.” Meena said that on the global front, there has been a decline in the bond yield and dollar index in the US and the market will also keep an eye on this going forward. On the macro-economic front, the Purchase Manager’s Index (PMI) data for the service sector will come on Monday.
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Siddharth Khemka, head of retail research at Motilal Oswal Financial Services, said, “Investors are eagerly waiting for the results of the assembly elections.” Last week, the 30-share BSE Sensex gained 574.86 points or 0.92 per cent.
RBI’s credit policy will be the biggest trigger for the markets
Apoorva Seth, Chief Market Outlook at SAMCO Securities, believes that the biggest development for the stock markets this week is the Reserve Bank’s monetary review. Amol Athawale, deputy vice president – technical research, Kotak Securities Ltd., said that the two key developments ahead for the market are the Reserve Bank’s monetary review and the Federal Reserve’s meeting to be held in mid-December. These will decide how the ‘mood’ of the investors is going to be in the near future. Along with this, the movement of Brent crude oil and rupee will also be important for the direction of the market, he said.
There will be a lot of volatility in the market in the coming weeks.
Vinod Nair, Head of Research, Geojit Financial Services, said that the direction of the market will be decided by the outcome of the Reserve Bank’s monetary meeting. Nair said that due to high valuations, Federal Reserve meeting and Kovid ban in China, there will be a lot of volatility in the market in the coming weeks. HDFC Securities Research Chief Deepak Jasani said that the results of the Reserve Bank’s monetary review meeting on December 7 will show how the trend of interest rates in the country is going to be going forward.
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