Market Momentum Next Week: Key Factors To Drive Indian Stock Market
The S&P BSE Sensex reached a new high of 85,978, gaining 0.16 per cent. It finished the day at 85,615, which was a 0.30 per cent drop from the previous close, but it stayed above the 85,000 mark for the third day in a row. Over the week, the 30-share BSE index rose by 1,027.54 points, or 1.21 per cent, while the Nifty increased by 388 points, or 1.50 per cent.
New Delhi: The Indian stock market closed September on a high note, enjoying a strong bullish rally mainly due to positive global influences. As October begins, investors are eager to keep an eye on important market factors such as domestic and global economic data, auto sales figures, second-quarter corporate updates, a key meeting by the market regulator, and trends in foreign investments and oil prices.
In the first week of October, there’s expected to be a lot of activity in both the domestic and corporate sectors. The recent market rally was sparked by a significant 50-basis-point interest rate cut by the US Federal Reserve, which indicated confidence in the US economy and also included monetary support from China.
Domestic equity benchmarks, the Sensex and Nifty 50, reached new record highs for six consecutive sessions and marked a third straight weekly gain. This impressive performance was mainly driven by a surge in metal and financial stocks, which attracted a lot of buying interest thanks to improving global and local conditions.