Will the impact of GST reforms be seen on the Monday market? Know how the stock market will move on 22nd?:

News Topical, Digital Desk : Stock Market Prediction for 22nd September: The Indian stock market is expected to be volatile on Monday. In fact, another new decree has come from US President Donald Trump. Under this, it has been said that the fee charged on H1B visa will be increased to $100,000 annually. Its effect can be seen in the week starting from 22nd September. Earlier on Friday, 19th September, the stock market closed with a decline. This decline was recorded due to profit booking in the shares of HDFC and ICICI Bank. Due to this, Nifty fell by 96.55 points or 0.38 percent to 25,327.05. During this period, about 1992 shares saw an increase and 1961 shares saw a decline. Whereas, there was no change in 163 shares.

The market closed on Friday

Sectorally, the Nifty Bank index fell 268.60 points, or 0.48 percent, to close at 55,458.85. However, the Nifty PSU Bank index gained 1.28 percent. Nifty IT, Nifty FMCG, and Nifty Auto all declined by up to 0.50 percent. The BSE Nifty Midcap 100 and Nifty Smallcap 100 closed flat.

According to exchange data, foreign institutional investors (FIIs) bought shares worth ₹390.70 crore on Friday, while domestic institutional investors (DIIs) bought shares worth ₹2,105.22 crore. On a weekly basis, the Nifty gained 257.85 points, or 1.02 percent. Similarly, the BSE Sensex gained 867.49 points, or 1.06 percent.

GST reforms will increase purchasing in these sectors

According to an ET report, Vinod Nair, Research Head at Geojit Investments, said that after a steady rise over the past several sessions, the Indian stock market witnessed profit-booking on Friday. However, ongoing US-India trade deal negotiations will continue to support investors. The GST reforms are also set to come into effect next week, which will shift investor attention towards the consumption sector. Buying interest in the auto and real estate sectors will increase.

Meanwhile, Ajit Mishra, Senior Vice President (Research) at Religare Broking, said that the performance of bank stocks, especially private bank stocks, will be closely watched in the Nifty. Banks will play a key role in taking the Nifty above 25,500. He said, "The rally in stocks like Reliance Industries, TCS, Infosys, and others will help maintain the positive sentiment amid the Nifty's strong performance. Investors are advised to focus on select stocks and also keep an eye on sectors that are showing strength."