March 26, 2023


Data for October industrial production will come this week in the US and China.
Investors will have a special eye on data related to CPI inflation in India.
With the purchase of FIIs and FPIs, the Indian market can touch new record highs.

Mumbai. Last week, there was tremendous growth in the Indian stock markets. On Friday, Nifty and Sensex closed with a green mark. Investors got a big relief when the inflation rate in America was lower than the estimate and buying was seen in all sectors. Market experts believe that if foreign institutional investors continue to buy, then the market can touch a new peak.

At present, in the new trading week starting tomorrow, the eyes of investors will be on the data related to CPI in the country. On Saturday, RBI Governor Shaktikanta Das has expressed hope that this time the inflation rate may remain below 7 percent. Apart from this, macroeconomic data of America, China and Britain will also be important on the global front. Let us know how the market will move next week and which factors will be important in deciding its condition and direction.

Market will keep an eye on CPI data
On the domestic front, the most important data for the market will be CPI (Consumer Price Index) inflation coming on Monday. Reserve Bank of India Governor Shaktikanta Das, including economist, has forecast retail inflation to be below 7 per cent for October, largely due to fall in prices of imported goods. With this there may also be some moderation in inflation.

Also read- Changed mood of foreign investors, FPIs became buyers from sellers, investment of 19 thousand crores in 2 weeks

These figures will come on the global front
On the global front, investors will be eyeing the October inflation data in the UK, which stood at 10.1 per cent in September. In addition, the UK will also release its unemployment figures for September. The rate was 3.5 percent in August, the lowest level since 1974.

Global investors will also be watching data related to October industrial production and unemployment in the US. China will also release its industrial production figures for October next week.

move of Rs.
The Indian rupee recovered last week after the greenback fell amid rising hopes of a softening of rate hikes by the Fed. This was because inflation in the US fell to 7.7 per cent in October (from 8.2 per cent in September), and the equity market took it positive and the rupee is likely to trade higher.

foreign investors buying
FIIs (Foreign Institutional Investors) are gradually increasing their buying in the Indian markets after improving global cues and are happy with India’s economic data. Experts said that if foreign investors continue to buy, then the market can reach new highs going forward.

Also read- 9 out of the top 10 Sensex companies earned ₹2.12 lakh crore to investors, HDFC Bank became the topper

Big companies will release quarterly results
Earnings season is on in the Indian market and most of the big companies have given results as per or better than expected. Next week, more than 1400 companies will present their results for the September quarter. These include companies like ONGC, Grasim Industries, Biocon, Bharat Forge, Apollo Tyres, IRCTC and SpiceJet.

IPO Market
Next week 3 new issues will be open for subscription in the IPO market. These include Kaynes Technology India, Inox Green Energy and Keystone retailers. Apart from this Fusion Micro Finance, Medanta Hospital and Bikaji Foods IPO will be listed.

Technically strong market
Technically also the markets are looking strong. Nifty 50 has formed a bullish candle on the Daily, Weekly and Monthly time frames, which is trading well above the all important moving averages. Momentum indicators- MACD (Moving Average Convergence and Divergence) and RSI (Relative Strength Index) are also giving positive signals.

Experts said, after the Nifty touching a high of 18,350, it is now set to move towards a record high, provided it maintains support at 18,300 as well as 18,000 levels in the coming sessions.

Tags: BSE Sensex, business news, Nifty50, stock market

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