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Thursday, July 7, 2022

Stock Market: Crude oil and global signals will give direction to the market, know whether the decline will continue even further?

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Stock Market Update: If you too have invested money in the stock market, then before that know that the selling in Sensex-Nifty will continue in the coming week or else there may be some relief in it. Let us tell you that this week the direction of the stock markets will be decided by the global trends. Expressing opinion, market experts have said that the eyes of investors will also be on the foreign reserve and crude oil prices. Apart from this, the progress of monsoon will also decide the direction of the market.

FIIs are selling continuously
Santosh Meena, Head of Research, Swastika Investmart has said that the major concern for the Indian markets is the indiscriminate selling by Foreign Institutional Investors (FIIs). Rupee fluctuations and news related to monsoon will also be important from the market point of view.

Global signals will decide the move
Ajit Mishra, Vice President – Research, Religare Broking has said that in the absence of any major developments on the domestic front, the direction of the local markets will be determined by the global trend. Market participants will be watching the cases of Covid infection and progress of monsoon.

How much has the Sensex-Nifty slipped?
Last week, the 30-share BSE Sensex fell 2,943.02 points or 5.42 per cent. At the same time, the Nifty of the National Stock Exchange lost 908.30 points or 5.61 percent. Meena said that due to weak global trend, aggressive increase in interest rates in the US and selling of FIIs, there was a huge fall in the market last week.

Crude oil will also have an effect
Shivani Kurien, Senior EVP and Head of Equity Research, Kotak Mahindra Asset Management Company said, “There are several factors that will decide the market trend this week. Factors such as inflation and monetary policy, commodity prices especially crude oil, news on the Ukraine-Russia war front, and domestic demand and corporate earnings will determine the direction of the markets in the near future.

Yesha Shah, Head of Equity Research, Samco Securities said that there is no major development going to happen this week on the domestic and global front. In such a situation, global trends will be important for the local markets.

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