Thursday, February 22nd, 2024

After BJP’s strong victory in 3 states, how will the stock market behave from tomorrow? Read full details here

Photo:FILE Share Market

five states The picture of the assembly elections has become clear. BJP seems to be getting a huge majority in Rajasthan, Madhya Pradesh and Chhattisgarh. In such a situation, how will be the stock market opening tomorrow i.e. from Monday? Will the market rally continue or will profit-booking dominate? Market experts say that global trends, attitude of foreign investors, election results of five states and Reserve Bank’s decision on policy interest rate will decide the direction of domestic stock markets this week.

The market may continue to rise

Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Limited said that the global market is in an excellent position at the moment. The US 10-year bond yield and weakening dollar index provide strength to the market. These will be closely monitored as they have the potential to impact market sentiment.” Along with this, Gaur said that the market is eagerly waiting for the results of the assembly elections in five states. He said that a stable political environment Can boost investor confidence and lift the market higher.Apart from this, domestic and global macroeconomic data, trends in global stock markets, movement of rupee against dollar and crude oil will also decide the market trend.

Investors will keep an eye on many economic figures

Many important figures are going to come this week on the macroeconomic front. The Purchasing Managers Index (PMI) for the services sector will be announced on Tuesday. The Reserve Bank of India (RBI) will announce the decision on the policy interest rate on Friday. Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd, said, “The markets are influenced by domestic and global economic data, global bond yields, crude oil stocks, fluctuations in the dollar index, investment activities of foreign institutional investors (FIIs) and domestic institutional investors. But will respond.”

There was tremendous growth in the stock market

Last week, BSE index Sensex rose by 1,511.15 points or 2.29 percent, while National Stock Exchange (NSE) index Nifty rose by 473.2 points or 2.39 percent. On Friday, Nifty closed at an all-time high of 20,267.90, up 134.75 points or 0.67 percent. Similarly, Sensex also rose by 492.75 points or 0.74 percent and closed at 11-week high of 67,481.19 points. “India remains a bright spot in an uncertain global economy. Strong GDP growth and manufacturing data are underpinning it,” said Prashant Tapase, senior vice-president, research, Mehta Equities Ltd. Last week’s rally was driven by favorable macroeconomic data. And the continuation of inflow of foreign funds played an important role.

Latest Business News

Whatsapp GroupJoin
Telegram channelJoin

Along with gold, silver also became expensive, the price rose by Rs 335, what rate did gold reach in the bullion market

Highlights: The spot gold price rose by Rs 335 to Rs 57,463 per 10 grams. In the international market, gold rose sharply to $ 1,880 an ounce. While silver rose strongly to $ 22.45...

Wants to go on the mountains by car but is afraid of slipping, so know the tricks to control the car

Photo: CANVA Tricks to not slip the car from the mountains Vehicle Slipping Problem: Traveling to hill stations in your car is probably the dream of every long drive lover. There is a different...

This cheap car is being sold indiscriminately for 7 years, what is so special? You will be surprised to know 5 features

Highlights: The design of the Baleno hasn’t changed much since 2015. There is a comfortable space for 5 people in Baleno. The biggest advantage of the Baleno is its tremendous mileage. Maruti Baleno: Maruti...