Market will start slow amid sluggish signals

Share Market: After a long holiday amid sluggish signals from the global market, Indian Share Market The beginning may be slow or negative. Benchmark Sensex and Nifty indices are likely to open on a negative note today as the broader Nifty trended with a loss of 53 points. Earlier last Thursday, a new record of high was seen in the market. However, analysts are of the opinion that the direction of local stock markets this week will be decided by macroeconomic data on the domestic front and global trends. Industrial production on the domestic front during the week (IPO) and inflation figures are to come. Its impact will be clearly visible on the market. Analysts say that due to high valuations there may be some fluctuations in the market. Besides, activities of foreign investors, global Brent crude oil prices and fluctuations of rupee against dollar will also be important for the market.

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What do experts say

Swastika Investmart Ltd. Santosh Meena, head of research, said that this week the market’s focus will be on inflation data. During the week, Consumer Price Index (CPI) based inflation data of India and America will come on Tuesday. Inflation data based on Wholesale Price Index (WIP) will be released on Thursday. He said that the buying activities of foreign institutional investors (FIIs) may continue. In such a situation, shares of big companies can perform better. Industrial production data for January and consumer price index based inflation data for February will come on Tuesday. Wholesale inflation data will be released on Thursday.

There will be fluctuations due to profit booking in American

Vinod Nair, head of research, Geojit Financial Services, said that inflation data from the US, China and India will give investors information about the global macroeconomic scenario. We estimate that market volatility will continue due to high valuations. The Sensex gained 374.04 points or 0.50 percent amid record-breaking gains last week. Stock markets were closed on Friday on the occasion of ‘Mahashivratri’. Religare Broking Ltd. Senior Vice President Technical Research, Ajit Mishra said that apart from the scheduled macroeconomic data, the performance of global markets will give direction to the market. At present, after four months of continuous rise, profit booking is being seen in the American market. In such a situation, some fluctuations may be seen in the market on an immediate basis.
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