Market movement will be determined by global factors

Domestic stock markets fell last week under global pressure and in the coming week too, investors will be looking mainly at foreign factors and domestic companies’ quarterly results, car sales, service PMI and industrial PMI.

There was concern in the market last week due to the increase in the cases of delta version of Kovid-19 abroad. Investors are expected to be cautious this week. Along with this, the impact of the epidemic and vaccination progress at the domestic level and the statistics of eight major industry sectors will also be visible on the market.

The last week was full of volatility for the domestic stock market. BSE’s 30-share sensitive index Sensex closed at 52,586.84 points on Friday with a weekly decline of 399.96 points in the reporting period and the National Stock Exchange’s (NSE) Nifty fell 93 points to end at 15,763.05 on the weekend.

While selling was seen in the giant companies, the indices of medium and small companies were successful in making gains. During the week, BSE Midcap rose 66.208 points to 23,087.22 and Smallcap rose 360.71 points to 26,786.62.

Analysts say that the market may see volatility in the next week as well as there is no domestic factor which would be helpful in deciding the market movement. Car sales as well as industrial PMI and service PMI figures can also influence the market movement this week.