Due to the holiday on Tuesday on the occasion of Vijayadashami i.e. Dussehra, business remained closed in the Domestic stock market and the commodity market. Regular trading will run in the Indian stock and commodity markets on the next day i.e. on Wednesday.
On Monday, the Bombay Stock Exchange’s flagship index Sensex closed at 37,531.98, down 141.33 points, or 0.38 per cent. The National Stock Exchange’s major index Nifty was down 48.35 points, or 0.43 per cent, to close at 11,126.40.
Trading started strongly with strong foreign cues, but at the end of the whole session, the selling pressure increased and closed the major sensory indices down from the previous session. A total of 2,978 stocks were traded on BSE, out of which 967 shares gained momentum while 1,766 shares declined. At the end of trading, 245 shares closed without any change.
The stock market started strongly on Monday on the first trading day of the week. In the morning, the Bombay Stock Exchange (BSE) Sensex opened with a gain of 26 points at 37,699 and later it was seen to fluctuate. The National Stock Exchange (NSE) Nifty also opened strongly. However, at the end of the business, the stock market lost its full edge and the exchanges went in red.
In this way, the stock markets have closed with a fall for the sixth consecutive trading session. IT, FMCG and the metal sector were under tremendous pressure.
The key financial data released this week, as well as the second quarter financial results of domestic companies, will play an important role in deciding the country’s stock market. Apart from this, the impact of domestic and foreign events and the rupee move against the dollar will also be seen.
Most of the world’s markets were in green mark due to the fall in unemployment rate in America. The unemployment rate in America has been the lowest in the last 50 years, due to which the worry of the global recession has gone away.
The selling pressure in the Indian stock market last week led to a sharp decline in key sensory indices, but this week many leading domestic companies are going to announce their financial results for the quarter ended September 30, which will be looked at by investors. And it will also give direction to the market.
Also, the trend towards investment of foreign portfolio investors ie FPIs and Domestic Institutional Investors (DIIs) will be important in deciding the market direction.
Some of the major decisions and figures of the past week, such as the repo rate by the Reserve Bank of India and the GDP growth rate cut, the non-farm sector employment data released in the US may see further reaction in the stock market.
On Wednesday, the minutes of the recent meeting of the Open Market Committee of the US central bank Federal Reserve will be released. On Thursday, the country’s leading company TCS will release its second quarter financial data and IndusInd Bank will also release its financial results. The next day on Friday, Infosys will also release its figures for the second quarter of the current financial year.