Tuesday, September 26, 2023

Share Market Outlook Sensex Nifty This Week RBI MPC June 2023 Meeting…

During the last week, the domestic stock market performed well in a mixed manner. After the threat of default in America was averted, the trend in the stock markets around the world has turned positive. For this reason, it is expected that the coming week can prove to be better for the market. However, apart from this, there are many such big factors, which will have a significant impact on the next week’s market movements.

Market remained flat last week

First about last week. The market remained almost flat during the last week. In the midst of many negative developments, this can be called a fair performance according to the market. On the other hand, during the entire month of May, the BSE’s 30-share sensitive index Sensex (BSE Sensex) gained more than 1,500 points ie about 2.5 percent and closed at 62,547.11 points. Similarly, the NSE Nifty gained around 470 points i.e. 2.6 percent during this period and stood at 18,534.10 points.

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Reserve Bank meeting from Monday

Talking about the new week starting from Monday, the biggest event is the Reserve Bank of India’s Monetary Policy Committee meeting (RBI MPC June Meeting). The three-day meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India will begin on June 6. The results of the meeting will be announced on June 8. The market will be closely watching the MPC meeting. It is expected that this time also the interest rates can be kept stable in the MPC meeting of RBI.

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These developments will also have an impact

During the week, macroeconomic data on the domestic front and global trends will also decide the direction of the stock markets. Apart from this, the activities of foreign portfolio investors ie FPI will also affect the market trend. The progress of monsoon will also have an impact on the movement of the market. At the same time, investors will also keep an eye on the trend of rupee against the dollar and the prices of crude oil.

Service PMI figures to come

On Monday, the first day of the week, the PMI data for the service sector will come. Earlier the manufacturing figures have been released. Factory activity in the country has been at a 31-month high during the month of May. If the PMI data of the service sector also remains on the same lines, then the market can get help.

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favorable environment for the market

GDP figures were also released last week, which were better than expected. This can help the market to gain momentum. The danger of default in America has been averted and the US Parliament has been successful in finding a way out. This will give strength to the investors. At the same time, the current season of quarterly results of companies is also proving to be good. In this way, the atmosphere is looking favorable for the market in the new week.

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