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Stock Market News Updates: Global trends, foreign institutional investors (FII) activities and Brent crude oil prices will determine the direction of the stock market this week. Analysts have said this. Last week, the stock markets fell by almost three percent. The market may remain volatile this week due to the settlement of monthly derivatives contracts on Thursday.
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Santosh Meena, head of research at Swastik Investsmart Ltd said, “This week is the settlement of futures and options (F&O) contracts for the month of September. Amol Athavale, Vice President (Technical Research) of Kotak Securities Limited said, “Rising crude oil prices, strength in the dollar index and selling by foreign institutional investors (FIIs) will keep the market volatile. Perception is affected.
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“Apart from this, global and domestic macroeconomic data, trends in global markets, crude oil prices, movement of rupee against dollar, activities of FIIs and domestic institutional investors (DIIs) will also be important for the market,” he said. During the week, the market will also take direction from US and UK Gross Domestic Product (GDP) and Euro Zone inflation data,” said Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd.
Last week, the 30-share BSE Sensex was down 1,829.48 points or 2.69 percent, while the National Stock Exchange’s Nifty was down 518.1 points or 2.56 percent. “Although the US central bank Federal Reserve left the key interest rate unchanged at its recent meeting, it signaled a tightening stance going forward,” said Srikant Chauhan, head of research (retail) at Kotak Securities Ltd. Apart from this, crude oil prices are also at a high level. Due to these factors the market trend has been negative.