Stock Market Outlook: The wave of Corona has again started wreaking havoc. The shadow of Covid has again deepened in the neighboring country China and according to the media reports coming from there, crores of people are getting infected by it daily. These news are proving to be very worrying for the Indian stock market as well and that is why Friday has proved to be Black Friday for the domestic market.
Global and Indian stock market will remain volatile
According to financial experts, global trends and the situation of the Kovid epidemic in China will determine the movement of the stock markets this week. Apart from this, volatility may remain between the completion of futures deals on Thursday.
According to analysts, investor sentiment remained weak last week amid increasing cases of Kovid-19 infection in China and some other countries. Besides, strong US growth data gave room for the Federal Reserve to continue with its accommodative stance. Because of this also weakness has been seen in the market. Last week Sensex fell 1492.52 points or 2.43 percent and the whole week has proved to be very disappointing for the stock market. On the other hand, the Nifty declined by 462.20 points or 2.52 per cent.
what do experts say
Shrikant Chauhan, head of equity research (retail), Kotak Securities Ltd, said, “Global equity market will be seen due to increase in Kovid infection in China and the possibility of recession.” Vinod Nair, Research Chief, Geojit Financial Services, said that the market is expected to remain volatile, as investors are keeping an eye on the increasing cases of Kovid-19 in China.
This will happen at the end of the year
Ajit Mishra, vice-president (technical research), Religare Broking Ltd., said, “The scheduled derivatives expiry of December month contracts will keep the stock market busy. Apart from this, the increase in cases of Kovid infection will increase the volatility.” Next week, investors will also keep an eye on the movement of rupee, Brent crude oil and foreign investors.
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