Business/Alive News: Wholesale Price Index (WPI) inflation data, foreign institutional investor (FII) activity, crude oil prices and developments in West Asia are expected to influence domestic stock markets this week, market experts said. Global cues, including US retail sales, Federal Reserve meeting minutes and Nvidia’s earnings, will also shape investor sentiment.
October WPI inflation and merchandise trade data are scheduled to be released on Monday, November 16. Investors will closely monitor these figures for indications of domestic economic growth and inflation trends.
Ajit Mishra, Senior Vice-President of Research at Religare Broking, said movements in crude oil prices, the US dollar, Treasury yields and foreign investor flows would remain key factors determining market direction. Globally, investors will also track US retail sales, jobless claims and Federal Open Market Committee (FOMC) minutes for signals on future monetary policy.
Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services, expects Indian equities to maintain a positive bias, supported by strong domestic fundamentals, foreign investor buying and encouraging second-quarter corporate earnings.
Foreign investors made a strong comeback in Indian equities during the first half of November, investing Rs 84,290 crore after two consecutive months of net outflows.
However, concerns over high valuations of artificial intelligence companies and volatility in global technology stocks could affect investor sentiment. Ponmudi R, CEO of Enrich Money, said a deeper correction in global technology stocks could also put pressure on Indian IT shares.
Last week, the BSE Sensex gained 564.43 points, or 0.69 per cent, while the NSE Nifty rose 113.95 points, or 0.45 per cent.
Experts also said crude oil prices, currency movements and US bond yields would remain crucial watchpoints, while markets would assess expectations ahead of the RBI’s December monetary policy review.
