These 2 factors make direction of share market this week know before market open. These two factors will decide the direction of the market this week, know before the market opens or else there will be a loss business


Photo:PIXABAY These two factors will decide the direction of the market this week

Share Market Updates: There is going to be a lot of movement in the second week of the second month of the new year. Last week was not very good for the stock market. Same is the case for the last month as well. In January, foreign investors pulled out a lot of money from the Indian stock market. Withdrawals of Rs 28,852 crore broke the record for FPI withdrawals in the last seven months. Its effect was also seen in the market in the first week of February. This week, in the midst of the ongoing crisis due to the worldwide recession, the eyes of the Indian market will mainly focus on two things. This will decide what will be the direction of the stock market going forward? On Friday, the BSE Sensex jumped 909.64 points to close at 60,841.88 points in the stock market. At the same time, the NSE Nifty also managed to close in the green due to the good momentum. The Nifty closed at 17,854.05 with a gain of 243.65 points.

These two things will be important

The direction of the stock markets this week will mainly be determined by the Reserve Bank of India’s (RBI) decision on interest rates. Apart from this, the eyes of investors will be on the results of the third quarter of the companies. However, global trends and foreign fund movements will also play a big role. Analysts are of the opinion that Brent crude oil price and rupee movement will also be important from the market point of view. Pravesh Gaur, Senior Technical Analyst, Swastika Investmart said that all eyes will be on the direction of the US market. However, the inflow of foreign institutional investors (FIIs) will be significant, as they have been selling heavily in Indian markets since the beginning of 2023. His selling has increased further after the developments of the Adani group. This week, apart from the third quarter results of companies like Bharti Airtel, Hero MotoCorp, Hindalco and Mahindra & Mahindra, macroeconomic data will be released in the US. The monetary announcement of the Reserve Bank will be important from the point of view of the market. The Monetary Policy Committee (MPC) of the central bank will announce its decision on interest rates on February 8.

share game will change on wednesday

Shares of group companies have been falling steadily after a report by US-based short seller Hindenburg Research accused the Gautam Adani-led conglomerate of fraudulent transactions and manipulation of share prices. However, the Adani group has dismissed these allegations as false. Industrial production (IIP) data will come after the close of business on Friday. Religare Vice President Technical Research Ajit Mishra said that we believe the market will be volatile this week. There are many important developments as well as some statistics to come during the week. The results of the monetary review meeting of the Reserve Bank will be announced on February 8. Industrial production figures will come on February 10. This week, big companies like Tata Steel, Adani Ports, Ambuja Cement, Bharti Airtel, Hero MotoCorp, Hindalco, Lupine and Mahindra & Mahindra will announce their December quarter results. Vinod Nair, head of research at Geojit Financial Services, said the Reserve Bank’s monetary review will be a major catalyst for the domestic market this week.

RBI repo rate was changed in December

In its December monetary policy review, the central bank raised the key policy rate repo by another 0.35 per cent. Earlier, the central bank had increased the repo rate by 0.50 per cent three times in a row. Since May last year, the Reserve Bank has increased policy rates by 2.25 percent to bring inflation under control. The rise in inflation has been attributed mainly to external factors like disruption in global supply chains due to the Russia-Ukraine war. Last week, the 30-share BSE Sensex gained 1,510.98 points or 2.54 per cent.

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