Tremendous stir in the stock market, today these factors will determine the market condition and direction
Global market In view of the boom in the boom and the announcements of the RBI MPC meeting on Friday, the Indian stock market was seen on Wednesday after a decline of 3 days. On Wednesday, the BSE Sensex rose 261 points to close at 80,998.25, while NSE Nifty rose 78 points to close at 24,620. Vinod Nair, the research head of Geojit Investment, said that strong American employment figures and the signs of US-China trade stress decreased positively in the domestic market.
Good bright in the US market on Wednesday
Vinod Nair said, “Mid cap and small cap shares performed better, which was better than estimated income growth and softening in valuation. Investors are now focusing on the RBI MPC meeting, which is expected to clear the repo rate and the forecast of future growth and future growth and inflation.” On Wednesday, the strength of tech stocks saw a boom in the US markets, which made up for the decline due to weak economic data.
Positive stir also seen in European market
In May about a year, pressure was seen in the service sector for the first time in a year, while the business paid high input prices, showing that the economy was still at risk of experiencing very slow growth and high inflation duration. On Wednesday, European share closed with an increase, which was excited by Berlin’s approval of corporate tax relief package of 46 billion euros ($ 53 billion) with the objective of accelerating growth by Berlin.
Investors focus at RBI’s repo rate
LKP Securities Senior Technical Analyst Roopak Dey said that the Nifty continues to let lethargy, as businessmen are waiting for RBI’s interest rate decision. He said that there is a possibility of ups and downs in the market till the announcement on Friday. Roopak Dey said, “The support of the Nifty is kept at 24,500, if the Nifty falls and goes down from this level, then there may be more weakness. It can be seen between 24,750 and 24,900 at the upper level.”
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