Stock Market: The Monetary Policy Committee declared its unchanged stance and increased the repo rate to 35 basis points instead of 50 bps last week, which was a busy one for domestic markets and had investors on edge.
The Federal Reserve is anticipated to aggressively increase policy rates next week, according to the world markets. The global markets will undoubtedly reacted to the Fed’s decision to raise interest rates, which will eventually have an effect on the domestic markets. Another development is that US inflation statistics will be released the following week, and Wall Street will be watching for the results. Investors will also keep an eye on crude oil prices.
About Sensex and Nifty from last week
Last week, local stocks either increased in value or decreased in value based on signals from the Reserve Bank of India and the global markets. Despite this, following a four-day losing skid, the markets ended last week with gains. The BSE Sensex rose 160 points to 62,570.68, while the NSE Nifty advanced 48 points to 18,609.35 levels. The Sensex fell 390 points on Friday, mostly as a result of significant selling in the IT and oil sectors. Merchants claim that continued capital flight from the nation and rising crude oil prices have made the already negative sentiment worse.
The broad-based Nifty of the National Stock Exchange fell 112.75 points, or 0.61 percent, to 18,496.60.
Laggards from last week
Nestle, Sun Pharma, ITC, Dr. Reddy, and Titan were among the most actively traded companies on the NSE, all of which saw gains during the day. HCL Tech, Tech Mahindra, TCS, Wipro, and Infosys were a few of the laggards.
The most active shares on the BSE 30-share Sensex on Friday were Yes Bank, Paytm, MTNL, Jubilant Pharma, and Central Bank, all of which concluded the day with gains. J&K Bank, BCG, Vakrangee, Indian Bank, and Unichem Lab were among the other businesses whose shares ended in the red.
Stock Market: From foreign exchange market
The rupee strengthened by 10 paise to 82.28 against the US dollar on Friday, following the decline of the dollar in the foreign exchange market. Investors, according to traders, were waiting for more hints on the timing of rate hikes in the wake of a flurry of central bank meetings scheduled for next week.
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