Equity markets will be driven by the outcome of the US Federal Reserve’s interest rate decision this week, analysts said.<\/p>\n
<\/p>\n
Moreover, equity benchmarks will also continue to be guided by foreign fund movement and trend in Brent crude oil, they added.<\/p>\n
“The global markets are looking nervous after the US inflation numbers, which have caused the dollar index to hover around 110,” said Santosh Meena, head of research, Swastika Investmart Ltd.<\/p>\n
\u00a0<\/p>\n
Now everyone is eyeing the outcome of the upcoming US Federal Open Market Committee (FOMC) meeting.<\/p>\n
The Bank of England will also announce its interest rate decision, Meena said.<\/p>\n
He further added that institutional flows will play a critical role because foreign investors have turned sellers in the Indian equity market.<\/p>\n
“In absence of any major domestic data and events, participants will be closely eyeing the US Fed meet.<\/p>\n
“Besides, the trend of foreign flow would also remain on their radar,” Ajit Mishra, VP Research, Religare Broking Ltd, said.<\/p>\n
Last week, the Sensex shed 952.35 points or 1.59 per cent, while the Nifty fell 302.50 points or 1.69 per cent.<\/p>\n
The 30-share BSE Sensex had tanked 1,093.22 points or 1.82 per cent to settle at 58,840.79 on Friday, mirroring a sell-off in global markets.<\/p>\n
Despite its strong decoupling scenario and encouraging macroeconomic data, domestic bourses succumbed to the global trend of rising bond yields and the dollar index as a result of rate hike fears in the global market, said Vinod Nair, head of research at Geojit Financial Services.<\/p>\n
Apurva Sheth, head of market perspectives, Samco Securities, said, “The FOMC meeting and press conference will be the centre of attention this week.<\/p>\n
“Globally, Fed’s interest rate decision can trigger jitters in the markets. Although India has done significantly better than all the other major markets, it is expected to remain volatile.”<\/p>\n<\/div>\n[ad_2]\n<\/p>\n
News From This Website <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"