Global trends to direct market movement this week: Analysts

By: |
August 22, 2021 11:23 AM

With the earnings season over, markets would track movement in rupee, Brent crude and foreign fund inflows to derive further cues, analysts added.

During the last holiday-shortened week, the 30-share BSE benchmark Sensex declined 107.97 points or 0.19 per cent.

Equity market sentiment this week will be guided by global trends in the absence of any major domestic triggers, while bourses may also see some volatility amid expiry of derivatives contracts, analysts said.

Fears of sooner-than-expected tapering in monetary stimulus by the US Federal Reserve, rising cases of the Delta variant of the coronavirus coupled with China’s regulatory crackdown triggered selling in global markets in the previous week.

“In the absence of key domestic economic data points, the market is expected to continue its focus on global events in order to gain momentum. Global rise in COVID cases is also a cause for worry, keeping the volatility high,” said Vinod Nair, Head of Research at Geojit Financial Services.

During the last holiday-shortened week, the 30-share BSE benchmark Sensex declined 107.97 points or 0.19 per cent.

“Going ahead, global cues will be closely watched for further market direction. With cases of Delta variant rising globally, this is becoming the biggest worry for the markets at the moment along with nervousness around US Fed taper talks,” said Siddhartha Khemka, Head – Retail Research, Broking & Distribution, Motilal Oswal Financial Services Ltd.

With the earnings season over, markets would track movement in rupee, Brent crude and foreign fund inflows to derive further cues, analysts added.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1M-cap of four of top-10 most-valued cos jumps Rs 65,464 cr; Airtel, SBI lead gainers
2FPIs net buyers at Rs 16,305 cr so far in Sept
3Global trends to influence trading in domestic equity market this week: Analysts