The stock market can move with many important events this week. The biggest news is the GST Council meeting to be held on September 3-4, in which new tax reforms can be decided. Along with this, GDP figures of April-June quarter will also affect the market mood. Foreign investors will also pay special attention to their purchase and sale during this period.
Vinod Nair, head of research of Geojit Investments, said that the growing expenditure and policies of the government have strengthened India’s economy. Despite this, concerns remain about the budget. They believe that the solution to tax related problems can improve the trust of the market.
Increasing US fee may affect exports
India’s economy has shown a good growth of 7.8 per cent in the April-June quarter, which has been the fastest in the last several months. This figure came when America did not levy much fees yet. Now that the US has talked about increasing the fee on many things, big exports like cloth can be damaged. Due to this, there is also some tension in the market.
Ajit Mishra of Railways Broking said that this week investors will keep an eye on manufacturing, service sector data as well as vehicle sales reports. All these things tell how the economy of the country is going.
Rupee, crude oil and foreign investment can also move markets
The exchange rate fluctuations between the rupee and the dollar and changes in crude oil prices will also decide the direction of the stock market this week. Both these things affect the decisions of foreign investors. Research head of Motilal Oswal, Siddharth Khemka said that the market will pay full attention to GST meeting as well as GDP figures coming on Monday.
The market did not perform well last week. The BSE Sensex fell to 1,497 points and NSE Nifty also broke 443 points. In such a situation, investors will be very cautious this week and every small big news will see a deep impact.
Who will pay attention to the market this week?
This week, the market will first eye on the meeting of the GST Council. In this, a big decision can be taken regarding new tax rules. After this, the data of the upcoming GDP will show in which direction our economy is going. Also, PMI i.e. production index of manufacturing and service sector will also give an estimate of financial condition to investors. Vehicle sales figures are also important, as they show domestic demand and customer confidence. Apart from this, the price of rupee-dollar and oil prices will also be a matter of big concern for the market. Overall, there will be a stir in the market this week and investors will have to pay attention to every news.
Disclaimer: This article is only for information and should not be considered as an investment advice in any way. TV9 India suggests its readers and spectators to consult their financial advisors before taking any decision related to money.