In the absence of a major factor domestically in the week affected by the holiday, the next week is expected to be driven by personal signals from the domestic stock markets. Experts have expressed this estimate. The BSE Sensex gained 1,744.92 points or 4.16 percent and the NSE Nifty rose 516.70 points or 4.20 percent in the previous week. Both indices reached an all-time high on Saturday in the special Muhurta trading session that began at the beginning of the Hindu Samvat year 2077. BSE and NSE will remain closed on Monday on the occasion of ‘Diwali Baliapratipada’.
Emphasis on global signals only
Ajit Mishra, vice-president (research), Religare Broking Ltd, said, “This week is affected by the holiday and we believe that global cues will remain strong, as domestic factors are not present.” The quarterly results of the companies are also almost over. He said that with increasing cases of infection in the US and Europe, the corona virus epidemic would affect market perception.
Market cap of eight top 10 companies increased by Rs 1.90 lakh crore
Globally, more than 1.3 million people have died since November 15, 2020 from Kovid-19. Official figures show that 54.4 million people have been infected with the virus. The total number of corona virus cases in India has reached 88,14,579, while the death toll has reached 1,29,635. In the last 24 hours, around 41 thousand new cases have been reported in the country, while 447 people have died.
Market waiting for wholesale inflation data
Vinod Nair, head of research, Geojit Financial Services, said, “The market is at a standstill at the moment. The market is waiting for the wholesale inflation data to be released this week. Investors will also keep an eye on the rupee-dollar move, the position of Brent crude and the investment stance of foreign portfolio investors. Choice Broking Executive Director Sumit Bagadia said that investors will keep an eye on the news related to Kovid-19 and its vaccines in the coming times.