New Delhi [India], November 17 (ANI): The domestic stock markets, in the upcoming week, will focus their attention back to the Foreign Institutional Investment (FIIs) selling, global cues and domestic developments such as earnings of the companies and winter session of the Parliament, say analysts.
Additionally, the performance of the banking and IT sectors will be crucial in determining the market’s next move, as per the experts.
“Traders will keep a close watch on global market trends. The performance of the banking and IT sectors will be crucial in determining the market’s next move,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services opined that Trump victory has impacted both the equity and bond markets in the US. Equities have boomed on expectations of the positive impact of the promised corporate tax cut by Trump and his pro-business policies, he said.
Observing the market movement, Manish Goel, Founder and MD, Equentis said that investors are closely monitoring the situation in the Maharashtra amid the elections for signs of political stability and potential policy changes.
Also Read | WBBL 2024: Lucy Hamilton Becomes Youngest Bowler To Take Five-Wicket Haul in Women’s Big Bash League.
“Immediate market reactions are expected based on the outcome and perceived stability of the new government. The election result will influence both state governance and broader Indian market sentiment,” Goel said.
The markets resumed their corrective trend after a brief period of consolidation, shedding over two and a half percent for the week. Despite a flat opening, pressure from heavyweight stocks pushed the benchmarks lower, resulting in a muted session to close out the week.
Mounting concerns over rising CPI inflation and persistent disappointments in corporate earnings weighed heavily on sentiment.
As a result, the Nifty and Sensex settled near the week’s lows at 23,532.70 and 77,580.30, respectively.
Most sectors mirrored the benchmarks’ downward trajectory, with metals, FMCG, and auto stocks among the hardest hit.
However, the IT sector showed resilience, managing to gain nearly a percent amid the widespread selling. Broader indices, including midcap and smallcap stocks, were hammered, losing over 4 per cent each. (ANI)
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)
This post was originally published on here
