Market This Week: Global trends and GDP figures will affect the movement of the stock market

Market This Week: The direction of the stock market will be decided this week by the macro economic data and the trend of the global markets. Financial market experts have expressed this opinion. He says that monthly figures of automobile sales are also to come during the week, which will play a role in guiding the market. Bulls dominated the Dalal Path last week due to favorable factors like foreign institutional investors (FII) buying and fall in crude oil prices, which led to a spectacular rally in the market.

How was the market move last week?
Last week, the 30-share BSE Sensex gained 630.16 points or one per cent. Sensex closed at 62,293.64 points on Friday, which is its highest level. The National Stock Exchange’s Nifty also closed at its new record level of 18,512.75 points.

Know what experts say
Santosh Meena, Research Chief, Swastika Investmart, said, “Gross Domestic Product (GDP) data for the second quarter will come this week. Apart from this, vehicle sales data will also come.” Will keep an eye on the ups and downs. Apart from this, the news coming from China can also become the reason for the ups and downs of the market.

Big economic figures will come this week
Ajit Mishra, Vice President-Technical Analyst, Religare Broking Ltd. said that this week market participants will be watching GDP and Manufacturing PMI data for indicators. Along with this, monthly figures of vehicle sales will also come on December 1. GDP figures for the second quarter will come on Wednesday. At the same time, the data of Purchase Manager Index (PMI) for the manufacturing sector will be released on Thursday.

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Vinod Nair, Research Chief, Geojit Financial Services, said, “This week is also the address of the head of the Federal Reserve. Apart from his address, other macro economic data will decide the direction of the market.”

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