Markets Outlook for the Holiday-Shortened Week

Orhan Wadia
Orhan Wadia  - Editor
3 Min Read

In the upcoming holiday-shortened week, investors’ sentiments in the Indian equity markets are expected to be influenced by global market trends, foreign investors’ trading activity, and domestic macroeconomic data announcements, according to analysts. The benchmark indices experienced a record-breaking rally in the previous week, primarily driven by robust GDP data. Key factors shaping market dynamics include global events like the release of US services PMI, testimony by US Fed Chair Powell, and the US unemployment rate.

Major Influencing Factors:

1. Global Market Trends:

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  • Key global events, including the release of US services PMI on March 5, testimony by US Fed Chair Powell, and the US unemployment rate on March 8, will be closely monitored for their potential impact on market sentiment.

2. Crude Oil Prices:

  • Crude oil prices are gradually rising, and any negative surprises in this sector may disrupt market sentiment.

3. Domestic Macroeconomic Data:

  • The Purchasing Managers’ Index (PMI) data for the services sector is scheduled to be announced on Tuesday, contributing to market reactions.

4. FII/DII Investment Patterns:

  • Investors will scrutinize the Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII) investment patterns.

5. Currency Movement:

  • Movement of the rupee against the dollar will be a significant factor influencing market dynamics.

6. Global Stock Market Trends:

  • Trends in global stock markets will provide insights into broader economic trends.

Analyst Perspectives:

1. Santosh Meena, Swastika Investmart Ltd:

  • Key events like the release of US services PMI, Powell’s testimony, and US unemployment rate will be closely watched for their potential impact.
  • The bullish momentum continues, despite potential negative news.

2. Arvinder Singh Nanda, Master Capital Services Ltd:

  • This week, market reactions will depend on global and domestic economic data, investment patterns, crude oil inventories, rupee movement, and global stock market trends.

3. Vinod Nair, Geojit Financial Services:

  • Additional US data, including PMI, payroll data, and inflation data from China, may influence market dynamics.

Market Performance:

1. Last Week’s Performance:

  • BSE benchmark climbed 663.35 points or 0.90%, and Nifty jumped 165.7 points or 0.74%.

2. All-Time Highs:

  • BSE Sensex reached an all-time closing high of 73,806.15, and Nifty settled at a new closing high of 22,378.40.

3. Special Trading Session:

  • BSE and NSE conducted a special trading session on Saturday to test their preparedness for handling disruptions or failures.

The market outlook remains positive, but key global and domestic events will be closely watched for potential impacts on investor sentiment.

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