This week, the movement of domestic stock market will be decided by economic data and foreign signals
Mumbai . The movement of the domestic stock market will be decided by key economic data and foreign signals this week. Also, the movement of the rupee against the dollar and fluctuations in the price of crude oil in the international market and the trend towards investment of foreign institutional investors will also be watched. At the end of this week on Friday, the country’s industrial production data for October will be released and on the same day, the consumer price index based inflation data for November will be released. Investors will wait for these figures. Meanwhile, reports of the progress of the corona vaccine will be seen, along with measures being taken worldwide to prevent the outbreak of Corona virus infection. Expectations from the vaccine have seen a steady upward trend in the stock market.
With the positive trend towards foreign institutional investors investing in India, the country’s stock market continues to grow for the past five weeks. In just four trading sessions of December this month, foreign portfolio investors have received more than Rs 17,000 crore. The impact of major economic data released abroad on the domestic stock market will also be seen. The data for the month of November will be released in Americaam on Thursday this week. Earlier in Japan, GDP figures for the third quarter of this year will be released on Tuesday. Trade balance data will be released in China only on Monday. After this, the inflation data for November will be released on Wednesday.
The leading indices of the Indian stock market rose more than two per cent on a weekly basis last week. The 30-share benchmark Sensex, based on 30 stocks of the Bombay Stock Exchange (BSE), closed 929.83 points or 2.11 per cent higher at 45,079.55 from the previous week on Friday in the last session of the week. The National Stock Exchange (NSE) Nifty, a major sensitive index based on 50 stocks, also closed with a gain of 289.60 points, or 2.23 per cent, at 13,258.55 from the previous week.