In the past year, the stock market has broken many records and touched multiple new peaks. Nifty 50 and Sensex, the two broad market indices in the equity market jumped nearly 18%-20%. However, in the past month, the market has been moved into a correction mode. In the past month, both indices lost around 5% and above due to different factors such as negative global cues, the US elections, disappointing earnings session of Q2, middle crises, and more. Now you must be wondering what the stock market triggers for this week, isn’t it? So, this article will revolve around the factors that can influence the week ahead.
Assembly Elections in Maharashtra
The first factor that will be affecting the stock market this week is the assembly elections of Maharashtra. This is to be held on Wednesday, 20 November 2024. The results will be declared on 23 November. Election results can play a vital role in the stock market movement this week.
New Listings This Week
There are four stocks that will be listed on the stock exchanges this week. These stocks will bring in new capital and also have a significant effect on the stock market movement as a whole. Amongst the four listings, Zinca Logistics Solutions is a big name that will also debut in the market this week.
Global Cues
The global markets are now offering multiple cues to the domestic market which needs to be analysed as well. Factors like US bond yields, US dollar index performance, unemployment claims, Japan’s inflation data release, flash manufacturing and services PMI data, and more are coming together to shape the market movement of this week.
Corporate Actions
The next factor is corporate actions by different companies this week. As the earnings season is going on, a wide number of companies will announce their results this week. Amongst all the companies, the prime names are ONGC, MRF, Asian Paints, REC Ltd., Cochin Shipyard, and others.
Fuel Prices
Oil prices and movement in the stock market have an eternal connection. The oil prices are declining, and have moved down 2% in the previous session already. This is due to Chinese demand slowing down. And further slowdown is expected post rate cuts in the US.
The current Brent crude futures are currently around $71.04 per barrel, down by 2.09%.
FII Fund Flows
Finally, we have fund flow from the FIIs. Foreign investors have been withdrawing from Indian markets for the past 1.5 months and already FII outflow has been around Rs. 1.4 lakh crore. Domestic institutional investors didn’t lose hope and continued to offer the required support and purchased stocks worth Rs. 26522 crore in November until now. However, continuous selling pressure from the FII activity has been increasing the volatility in the market and making investors worried. This can have an effect on the stock prices in the week ahead as well.
Source: Mint
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