The stock market will remain closed on Friday, the movement of Sensex-Nifty will be decided by global signals

Stock Market: Amidst the ongoing volatility in the stock market, there can be a boom in the stock market in the coming week. The movement of the stock market next week will be decided by global cues. The season for companies’ quarterly results is almost over. Most of the companies have released their quarterly results.

US and China released inflation data
According to market experts, foreign portfolio investors are assessing the impact of rising inflation. Inflation figures released by the US and China last week. Interest rates may increase earlier than expected from them. With this, the yield on bonds has increased.

Inflation reached 30-year record
Let us tell you that in the US, inflation in October has reached a 30-year high of 6.2 percent on an annual basis. At the same time, the Consumer Price Index in China has grown 1.5 percent on a yearly basis. The Producer Price Index has grown by 13.5 per cent year-on-year.

local markets boom
Local markets may be affected by inflation concerns and earlier interest rate hikes. Due to such indicators, foreign investors can withdraw their capital from emerging markets like India. Local markets climbed on Friday after falling for three consecutive days. The market broke for three days last week, but despite this, the Sensex rose 619.07 points or 1.03 percent on a weekly basis.

Know what the experts said?
Santosh Meena, Head of Research, Swastika Investmart said, “The Q2 results are witnessing share-specific activity. Now the focus of the market will be on global indicators.” Yesha Shah, Head of Equity Research, Samco Securities said, “Quarterly results and the festive season is now behind. In such a situation, the market can be affected. If foreign institutional investors sell because of the rise in inflation, the markets here will fall if there is no support from local companies.

Market will be closed on Friday
Apart from this, the inflation data based on the Wholesale Price Index will come on Monday. Rahul Sharma, Co-Founder, Equity99 said, “There will be fewer trading sessions this week. On Friday, there will be a holiday in the market on Guru Nanak Jayanti. The season for quarterly results is over. The results of only a few small and medium-sized companies are yet to come.

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