Friday, February 23rd, 2024

Stock Market: Federal Reserve’s decisions and global trends will decide the market movement next week

Photo:REUTERS Bombay Stock Exchange

There may be a lot of movement in the stock market next week. What will be the trend or what will happen in the market will be decided by the decision of the American Central Bank i.e. Federal Reserve regarding interest rates and global trends. Market experts have given this opinion on Sunday. According to language news, stock markets will remain closed on Tuesday on the occasion of Ganesh Chaturthi. At the international level, the stock market may also see the impact of the interest rate decisions of the Bank of England and the Bank of Japan.

These factors will also impact the market

According to the news, Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Limited said that this week will be about monetary policy. Federal Reserve policymakers have called a meeting of the Federal Open Market Committee (FOMC) and the decision on interest rates is to be taken on Wednesday, September 20. Gaur said that the movement of rupee against dollar, bond rewards in America and crude oil prices will also be important for the direction of the market next week.

Market situation last week

Last week, the 30-share BSE Sensex gained 1,239.72 points or 1.86 percent. National Stock Exchange Nifty rose 372.4 points or 1.87 percent. The Sensex was in gains for the 11th consecutive trading session on Friday and closed at a record high of 67,838.63 with a jump of 319.63 points or 0.47 per cent. It rose 408.23 points or 0.60 percent to its new all-time high of 67,927.23 in intraday trading. On Friday, Nifty closed at its record high of 20,192.35, up 89.25 points or 0.44 per cent. It rose 119.35 points or 0.59 percent to its all-time high of 20,222.45 during the day.

There will be reaction on big macro economic data

Arvinder Singh Nanda, Senior Vice President, Master Capital Services, said that in the coming days, the market will be dependent on some big macro economic data like US S&P Global Manufacturing and Services PMI, unemployment claims, crude oil reserves, FOMC’s comment, Federal Reserve’s interest rates. But the decision will react to UK inflation, euro zone inflation. Its effect will be seen in the stock market.

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