INSUBCONTINENT EXCLUSIVE:
The highlight of the week was the aggressive buying by Foreign Institutional Investors
| Representational3 min read Last Updated : Sep 22 2024 | 10:53 AM IST
Investors will keep a track on global trends and trading activity
of foreign investors with no major domestic trigger in sight this week, analysts said, and added that markets may face volatility amid the
monthly derivatives expiry.
Stock markets had a record-breaking rally last week, largely driven by the US Federal Reserve's rate
cut.
Historically, rate cuts in the US have had a positive impact on emerging markets, with India being a favoured bet among global
investors, Santosh Meena, Head of Research, Swastika Investmart Ltd, said.
The highlight of the week was the aggressive buying by Foreign
week, but upcoming macroeconomic data from the US will be crucial to monitor
FII flows will remain a key factor for the Indian equity market, alongside domestic institutional inflows, which will also play an important
role.
"While markets currently seem unfazed by geopolitical risks, these factors could pose a significant threat to the ongoing bullish
As we approach the September F&O expiry, heightened volatility is likely," Meena said.
The 30-share BSE Sensex jumped 1,359.51 points or
1.63 per cent to settle at an all-time high of 84,544.31 on Friday
During the day, it soared 1,509.66 points or 1.81 per cent to hit the momentous intra-day peak of 84,694.46.
The NSE Nifty surged 375.15
points or 1.48 per cent to close at a record 25,790.95 level
During the day, the gauge zoomed 433.45 points or 1.70 per cent to reach an all-time intra-day peak of 25,849.25.
Last week, the BSE
benchmark jumped 1,653.37 points or 1.99 per cent and Nifty surged 434.45 points or 1.71 per cent.
Siddhartha Khemka, Head - Research,
Wealth Management, Motilal Oswal Financial Services Ltd, said, "Markets are gradually climbing up and we expect this positive momentum to
continue this week backed by strong FII inflow, healthy domestic macros, and receding concern about the US economy slowing down."Movement of
rupee against the US dollar and global oil benchmark Brent crude will also influence trading in the markets.
"Although the major event of
the Fed's rate cut is behind us, attention will remain on the US markets for further direction
Additionally, trends in foreign fund flows and crude oil price movements will be critical factors for investors to monitor, as they may
impact market direction in the coming weeks," Ajit Mishra SVP, Research, Religare Broking Ltd, said.(Only the headline and picture of this
report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)First
Published: Sep 22 2024 | 10:53 AMIST
