This meeting will decide the direction of the next week’s market, know how investors should prepare for it
Next Week Market: Events such as the quarterly results of companies from the special meeting of the Reserve Bank of India’s Monetary Policy Committee (MPC) and the decision on interest rates by the US central bank will decide the direction of Indian stock markets this week. Apart from this, the monthly sales figures of the auto companies will also decide the direction of the market.
When will these figures be released
The Purchase Managers’ Index (PMI) data for the manufacturing sector will be released on Tuesday. At the same time, the data of the service sector will come on Thursday. Pravesh Gaur, Senior Technical Analyst, Swastika Investmart said that the market will be watching the Federal Open Market Committee (FOMC) meeting, vehicle sales figures and quarterly results of the companies. Apart from this, the market will also keep an eye on the special meeting of the Monetary Policy Committee of the Reserve Bank convened on November 3.
Final round of second quarter results
Now the final round of second quarter results has started. In such a situation, special activities can be seen during the week. The October vehicle sales figures are important as it will give us an idea of the festive demand. A special meeting of the MPC will be held on November 3. A report on why the Reserve Bank has failed to keep inflation below 6 per cent will be prepared in the meeting.
There will be pressure on the Reserve Bank
Inflation has been above 6 per cent for three consecutive quarters since January. In such a situation, the Reserve Bank has to submit a report to the government and tell the reason for this. A six-member committee headed by Governor Shaktikanta Das will prepare a report on factors of failure to meet inflation target.
This week is important for the market for many reasons.
Ajit Mishra, Vice President Research, Religare Broking Ltd. said, “This week will be crucial for the market due to several reasons. The US Federal Reserve is meeting this week. Apart from this, a meeting of the MPC is also to be held. Also, vehicle sales figures will also be important from the market point of view.
Quarterly results are now expected to pick up pace. During this quarterly results of many big companies including Bharti Airtel, Larsen & Toubro, Tata Steel, Sun Pharma, Hero MotoCorp, HDFC, Cipla and Titan will be announced. Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services, said Nifty could move towards the 18,000-18,200-mark in the next few days on positive quarterly results, foreign institutional investors (FII) buying and positive domestic cues. Last week, the 30-share BSE Sensex rose 652.7 points or 1.10 per cent.
Latest Business News
function loadFacebookScript(){
!function (f, b, e, v, n, t, s) {
if (f.fbq)
return;
n = f.fbq = function () {
n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments);
};
if (!f._fbq)
f._fbq = n;
n.push = n;
n.loaded = !0;
n.version = ‘2.0’;
n.queue = [];
t = b.createElement(e);
t.async = !0;
t.src = v;
s = b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t, s);
}(window, document, ‘script’, ‘//connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1684841475119151’);
fbq(‘track’, “PageView”);
}
window.addEventListener(‘load’, (event) => {
setTimeout(function(){
loadFacebookScript();
}, 7000);
});
,
