Trading in the domestic stock market would be influenced by global equity trends, macro data and foreign fund movements in a holiday-shortened week, analysts said.
Markets could face volatile trends on Monday following Federal Reserve Chairman Jerome Powell’s speech at the Fed’s annual economic symposium in Jackson Hole on Friday.
“Powell sounded ultra hawkish in his brief speech in Jackson Hole. Markets will be concerned about tighter monetary conditions persisting longer than expected. The short-term impact on equity markets will be negative,” VK Vijayakumar, Chief Strategist investments at Geojit Financial Services, said.
On Friday, Federal Reserve Chairman Jerome Powell delivered a clear message: The Fed is likely to impose larger interest rate hikes in the coming months and is firmly focused on controlling inflation the most. high for four decades.
“The US Fed’s statement after the Jackson Hole symposium signaled the central bank’s strong commitment to controlling inflation rather than growth,” said Siddhartha Khemka, head of retail research, Motilal Oswal. Financial Services Ltd.
He added that US markets had fallen more than 3%. Indian markets are also expected to react negatively on Monday with rising volatility over the next few days.
Wall Street ended sharply lower on Friday.
Meanwhile, markets would be closed on Wednesday for Ganesh Chaturthi.
“The direction of global markets will be the dominant factor this week, while domestically, India’s GDP and August auto sales figures will be important factors. Apart from that, the market will also have an eye on the movement of crude oil prices, the dollar index and US bond yields,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
Purchasing managers’ index (PMI) data for the manufacturing sector, due to be announced on Thursday, would also influence trade, analysts said.
“This week is a shortened holiday period and it also marks the start of the new month, so participants will be watching important data like auto sales figures. States, would remain on the radar for clues,” said Ajit Mishra, Vice President – Research, Religare Broking Ltd.
The Foreign Institutional Investors (FII) investment pattern and rupee-dollar trends would also continue to drive the markets.
Last week, the Sensex fell 812.28 points or 1.36%, while the Nifty lost 199.55 points or 1.12%.
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Sources
1/ https://Google.com/
2/ https://www.outlookindia.com/business/global-market-trends-macro-data-to-guide-domestic-stocks-in-holiday-shortened-week-news-219391
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