India News Get -BusinessQ2 Results, US Election Results, Stock Market Action, FII Activity, US Fed Policy
There could be a decline in the stock market during the week beginning November 4. This week, investors will keep an eye on quarterly company results, global and domestic economic data and other factors.
According to market expert Harshubh Shah, there could be a stock market crash in the coming days, so one should avoid buying now. Shah had advised investors to stay away from the market even on Muhurat trading day.
Last week, the market closed with an increase of 322 points. The Sensex was at the level of 79,402 on October 25, which returned to 79,724 on November 1. However, Nifty closed its doors. It returned to 24,304 from the level of 24,399.
Five factors that can decide the market movement this week
1. Quarterly corporate results: SBI, Tata Motors to release results
This week, companies like Titan, Dr. Reddy’s, Tata Steel, Power Grid, Apollo Hospital, M&M, Trent, SBI, Tata Motors, Asian Paint and Divis Labs will release July-September quarter results.
Quarterly results were impacted by weak demand and pressure on margins. It hit FMCG, metal, automobiles and real estate the hardest, while IT remained relatively stable.
2. Indian and foreign investors: FIIs sold shares worth ₹14,000 crore
Last week, foreign institutional investors (FIIs) sold shares worth around ₹14,000 crore. However, in the same week, domestic institutional investors (DIIs) bought shares worth Rs 10,000 crore.
In the month of October, foreign investors sold shares worth a record 1.2 lakh crore. However, domestic institutional investors countered the selling pressure by purchasing around ₹1.07 lakh crore.
3. Global factors: US elections and Federal Reserve meeting
Investors’ attention will be focused on the US presidential election on November 5. There will also be a meeting of the US Federal Reserve on November 7. In this, interest rates can be reduced by 0.25%. At the last meeting, the interest rate was reduced by 0.50% to 4.75%-5.0%.
4. Technical view: the market could fall to the level of 23,500
According to experts, Nifty is consolidating in the 24,000-24,500 range. Ajit Mishra, senior vice president of research at Religare Broking, said, “If Nifty crosses 24,500, it can reach the level of 24,800.
While if it falls below 24000, the index could reach 23500. Harshubh Shah, founder of Wealth View Analytics, also predicted a market correction. He advised investors to avoid buying.
5. IPO and listing: 5 new IPOs, 1 of which will be listed
In the motherboard segment, four new public issues, including Swiggy IPO, will be opened next week, while in the SME segment, one new issue will be open for subscription. While Afcons Infrastructure shares will be listed on November 4.
Disclaimer: The opinions expressed in this analysis are those of individual analysts or brokerage firms, and not of Indianewsget. We advise investors to consult certified experts before making any investment decisions.