Market Outlook: The market has shown improvement for the second consecutive week, will Nifty now cross the 20,000 mark? This is an indication of the days to come.

Market OutLook :  After a continuous decline, the market has started to show signs of improvement. Despite adverse global market conditions and foreign investors’ selling during the previous week, the domestic market performed well. Now, there is hope that Nifty could potentially cross the 20,000 mark in the new week.

Here’s a recap of the previous week:
During the last week, BSE’s Sensex, comprising 30 stocks, gained 878.4 points, which is 1.34%, while the National Stock Exchange’s Nifty strengthened by 384.65 points, which is 1.97%. Friday saw a continuous upward trend in the market. At the end of the week, Sensex closed near 66,600 points, and Nifty reached 19,820 points. This marked the second consecutive weekly gain for the domestic stock market. Prior to this, the market had seen continuous losses for five weeks.

New Peaks for Midcap and Smallcap:
During the previous week, the domestic market performed well when the American market was declining. On the other hand, foreign portfolio investors continued to sell. According to depository data, Foreign Portfolio Investors (FPIs) have withdrawn a net amount of Rs 4,203 crores from the domestic market till September 8th. FPIs have been selling since August. Last week, the BSE Midcap and Smallcap indices reached their all-time highs.

Impact of these Figures:
In the coming week, economic indicators will play a crucial role. On September 12th, industrial production (IIP) and consumer price inflation figures will be released. Wholesale inflation and manufacturing figures will also be released during the week. Additionally, international factors like the European Central Bank’s meeting, Britain’s GDP figures, U.S. inflation and unemployment data, crude oil price fluctuations, and the movement of the dollar may also affect the market.

Expert Opinion:
Santosh Meena, Head of Research at Swastika Investment Limited, believes that there could be a rally in the market this week. Despite soft global cues, the domestic market showed strong upward movement last week. Nifty, Bank Nifty, and Sensex have started to show positive momentum again. Therefore, there is hope that the market will continue to perform well in the coming week, potentially crossing the 20,000 mark for Nifty.”

Disclaimer: The information provided here is for informational purposes only. It is essential to note that investing in the market involves risks. Before investing money, always seek advice from an expert.

more: Stock Market Opening: The stock market had a strong start, with the Sensex opening at 65,525 and the Nifty opening at 19,525 levels.