desk
Share
News Topical, Digital Desk : Stock Market Action: Analysts say that the impact of the possible cut in interest rates by the US Federal Reserve can be seen on the domestic stock market. Investors will focus on the deadline for imposing additional US tariffs on Indian products. Apart from this, trading activities of foreign investors, global trends and announcements of macroeconomic data will also determine the trend during the week. The stock market will remain closed on Wednesday on the occasion of Ganesh Chaturthi.
Positive global cues may provide support
Positive global cues are likely to provide some support as US markets rebounded sharply and the dollar index weakened after Federal Reserve Chairman Jerome Powell hinted at a possible interest rate cut in his Jackson Hole Symposium speech. Another important aspect will be the August 27 deadline related to the US plan to impose an additional 25 per cent tariff on Indian exports, said Santosh Meena, Research Head, Swastika Investmart. Along with this, macroeconomic data from the US, China and India will also be closely monitored. Spectacular jump in US stock market US markets rose sharply on Friday. The Dow Jones Industrial Average rose 1.89 per cent, the Nasdaq Composite 1.88 per cent and the S&P 500 1.52 per cent. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said Fed chief Jerome Powell's Jackson Hole speech indicates a rate cut in September. Siddharth Khemka, Head of Research (Wealth Management), Motilal Oswal Financial Services Ltd, said that we expect the Indian stock markets to continue to be supported by optimism about GST 2.0 reforms and domestic economic strength. Globally, clarity on US tariff action against India and upcoming GDP data from both India and the US will shape investor sentiment.
Eye on IIP and GDP data Last week, the NSE Nifty rose 238.8 points or 0.96 per cent and the BSE benchmark jumped 709.19 points or 0.87 per cent. Ajit Mishra, Senior Vice President (Research), Religare Broking Ltd, said that investors will keep a close eye on domestic data including IIP and GDP, which will be important indicators of economic growth.
--Advertisement--
