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This week the direction of the stock market will depend on many important factors. Global trends, activities of foreign investors, and domestic economic data will affect the market sentiment. The market will be closed on Wednesday, October 2 due to Gandhi Jayanti. Investors will keep an eye on the flow of foreign institutional investors (FII), vehicle sales data, and purchasing manager index (PMI) of manufacturing and service sectors. The impact of all these developments will be seen on the market.
The stock market will remain closed on October 2
The stock market will remain closed on Wednesday, October 2 on account of Gandhi Jayanti.
The attention of foreign investors
Santosh Meena of Swastika Investment said that it is important to keep an eye on the flow of foreign institutional investors (FII). The highest investment of FII has been made in the Indian stock market in September.
Commodities and Dollar Effects
Fluctuations in commodity prices, the US dollar index, and its economic data will also affect the market. All these factors together will determine the direction of the market.
Domestic statistics
On the domestic front, vehicle sales figures will be important. Quarterly results of companies will also attract attention.
PMI figures
Purchasing Managers Index (PMI) data for manufacturing and service sectors will be released this week. These figures can change the market sentiment.
Positive Attitude
Siddharth Khemka of Motilal Oswal said that the positive trend of the market is likely to continue led by major stocks. Last week, the BSE Sensex rose 1,027.54 points and the Nifty rose 388 points.
New highs
On Friday, the Sensex touched a new high of 85,978.25. The Nifty also reached a new high of 26,277.35 points on the same day.
Importance of global factors
Ajit Mishra of Religare Broking said that due to a lack of domestic signals, global factors will remain important in giving direction to the market.
vehicle sales figures
Vehicle sales figures will be released on October 1. These figures will be important for investors.
PMI figures
The HSBC India manufacturing and services PMI data are also worth paying attention to.
investors' view
Vinod Nair of Geojit Financial Services said that investors will keep an eye on the second-quarter results of companies. Investors are expecting an improvement in income.
It is worth noting that this week, the direction of the stock market will depend on many factors. Global and domestic data will be important for investors. Pay attention to what happens in the market.
