October 16, 2021

stock market outlook: IIP data, economic readings and IPO rush among key factors that may guide market this week

New Delhi: The domestic equity market was busy scripting history in the week gone by, thanks to positive global and domestic cues, along with buoyancy from foreign investors.

BSE barometer Sensex scaled a new record peak of 54,717, whereas its NSE counterpart Nifty50 was just shy of 16,350 during the week. Strong buying action in banking and IT stocks lifted the benchmark indices 3 per cent higher during the week.

“The policy was in line with market expectations, RBI continued to advance its super-easy monetary policy keeping its focus on economic recovery. On the sideline, the CPI forecast was increased to 5.7 per cent for FY22. High global inflation has started to impact other emerging markets’ monetary policy & currencies,” said Vinod Nair, Head of Research at Geojit Financial Services.

This week, the market momentum is likely to be decided by inflation data. Multiple…

Read full article here: economictimes.indiatimes.com