The stock market in the upcoming week will be looking at global happenings such as international market performance, anticipations of recession in the US, and domestic macroeconomic indicators such as IIP, CPI, and WPI inflation data, said market analysts.
The Indian benchmark indices traded weak after opening on a negative note on Thursday, reacting to the unchanged policy repo rate announced by the Reserve Bank of India
Indian markets started Wednesday's trading session on a positive note, following a global rally. The Nifty 50 index opened with a gain of 296.85 points or 1.24 per cent, reaching 24,289.40 points, while the BSE Sensex opened at 79,565.40 points, up by 972.33 points or 1.24 per cent.
The Sensex, India's benchmark stock index, opened with a sharp decline on Monday. The index has seen significant declines on several occasions, often in response to global and domestic economic events.
Indian markets experienced one of the worst falls on Monday with both the indices Nifty, and Sensex registered high losses during the opening trade. Indian stock markets followed the global bloodbath.
The report highlights the key indicators which reflect the extreme valuations in the Indian markets. It added that the market cap to GDP ratio stands at 150 per cent, matching the 2007 peak.
The Nifty 50 index opened with a decline of 221.90 points (0.89 per cent) at 24,789 points, while the BSE Sensex index declined by 708.55 points (0.87 per cent) to 81,158.99 points during the opening session.
The Indian stock market achieved a new milestone, with both Nifty and Sensex reaching a record high on Thursday. The markets got support from the US Federal Reserve deciding to keep the interest rates unchanged for the eighth straight time.