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Stock Market: This week these factors will decide the movement of the market, experts told to keep an eye on these things – stock market rbi interest rate decision pmi data currency movements to drive markets ahead – 2024-04-03 16:22:29

2024-04-03 16:22:29
New Delhi: There was a rise in the stock market last week. Due to Holi and Good Friday, the market was traded for only three days. Many factors are going to affect the market movements this week. These include the Reserve Bank of India’s decision regarding interest rates, economic data like vehicle sales, PMI (Perceiving Manager Index) and global trend will give direction to the market this week. According to experts, it is expected that the boom in the market in 2023-24 will continue in the future also. Apart from this, trading activities of foreign investors, rupee-dollar trend and the price of global oil standard Brent crude will also affect the trading in the stock market. The 30-share BSE Sensex gained 14,659.83 points or 24.85 percent in the financial year 2023-24 ending today. On March 7, it had reached an all-time high of 74,245.17 points. National Stock Exchange’s Nifty also strengthened by 4,967.15 points or 28.61 percent.FPI Inflow Data: Foreign investors are buying heavily in the Indian stock market, made a huge investment of Rs 2 lakh crore.

This meeting is important

Swastik Investmart Ltd. Pravesh Gaur, senior technical analyst, said, “The meeting of the Monetary Policy Committee (MPC) of RBI will start from April 3. The policy rate will be discussed and the state of the economy will be analyzed in the meeting. The monetary review will be announced on April 5. Its effect will be visible. Apart from this, with the release of vehicle sales figures on April 1, investors will keep an eye on the shares of these companies.” He said, ”Apart from this, people will also keep an eye on the position of the rupee against the dollar and the prices of crude oil. They will also keep an eye on foreign institutional investors (FII) and domestic institutional investors (DII) investments.

Pravesh Gaur said US central bank Federal Reserve Chairman Jerome Powell’s speech is scheduled for April 3, 2024 and data like US ISM Manufacturing PMI for March will be announced on April 1. He said that investors will keep a close eye on these things as they have the potential to influence market sentiment.

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Market cap of companies increased

With the market rally, the market capitalization (MCAP) of BSE listed companies increased by Rs 1,28,77,203.77 crore to Rs 3,86,97,099.77 crore in the financial year 2023-24. Master Capital Services Ltd. Arvinder Singh Nanda, Senior Vice President, said, “The market trend will be determined by key global and domestic economic data. This includes vehicle sales figures in the country, Manufacturing Purchasing Managers’ Index (PMI) of the US and India, job figures in the US, factory orders etc.

He said, “The meeting of the Monetary Policy Committee of the Reserve Bank of India will begin on April 3 and the monetary policy review will be announced on April 5.” The monetary policy statement will provide important signals on the economy, inflation and interest rates.” Last week, the BSE Sensex rose 819.41 points or 1.12 per cent while the National Stock Exchange’s Nifty rose 230.15 points or 1.04 per cent.

Religare Broking Ltd. Senior Vice President (Technical Research) Ajit Mishra said, “In view of the Monetary Policy Committee meeting, we estimate that there will be volatility in the market this week also.” On the global front, investors will keep an eye on the activities of the US market.

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