Stock Market: The movement of the market will be decided by the news and big data of Corona’s new variant ‘Omicron’

Stock Market: The direction of the stock markets will be decided this week by the news related to the new variant of the corona virus. Market experts have expressed this opinion. Last Friday, the global market had declined due to news related to ‘Omicron’, the more rapidly spreading form of corona virus and Indian markets were also not untouched by it.

Vehicle sales figures will also come
Experts say that apart from this, macroeconomic data and monthly sales figures of auto companies will also give direction to the market. A committee of the World Health Organization (WHO) has named the new Kovid strain as ‘Omicron’. The committee says that Omicron is a form of Kovid spreading infection like Delta.

Omicron cases have come to the fore in many countries
On 24 November, the WHO received information about the more infectious Omicron from South Africa. Cases have also been reported in Botswana, Belgium, Hong Kong and Israel. Several countries have imposed travel restrictions and curbs on southern African countries in an effort to stop the spread of Omicron.

The impact of the Kovid event will be visible
Santosh Meena, Head of Research, Swastika Investmart said, “Apart from the new nature of Kovid, the attitude of foreign institutional investors and macro data will decide the direction of the market this week. The developments related to Kovid will be mainly important for the market. Apart from this, the eyes of the market will also be on how effective the various vaccines of Kovid are against this new form. ,

RBI meeting to be held in December
The Sensex had lost 1,688 points on Friday amid concerns over the new corono virus variant. Along with this, there was a fall in the global markets as well. Yesha Shah, Head of Equity Research, Samco Securities, said, “Post Q2 results, Dalal Street will continue to look at the macro figures. The monetary review meeting of the Reserve Bank is to be held in December, so inflation will also be a major factor. Vehicle sales figures for the month of November can also be a reason for volatility in the market this week.

Sensex down 4.24 per cent last week
PMI figures for the manufacturing and services sector are due this week. Shrikant Chauhan, Head – Equity Research (Retail), Kotak Securities Limited said, “The direction of the stock market in the near future will be decided by the news related to the new Kovid variant, inflation data and the monetary review meeting of the central bank.” Last week. The BSE 30-share Sensex was down 2,528.86 points or 4.24 per cent.

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