Mumbai, October 11 (Daily Kiran) : The upcoming week is set to be crucial for the Indian stock market. Key factors such as crude oil prices, bond yields, and inflation data will significantly influence market movements.
In the United States, important economic indicators including inflation, home sales, and retail sales will be released next week. Meanwhile, India will also see the release of retail and wholesale inflation figures, unemployment rates, trade balance data, and foreign exchange reserves.
Crude oil prices are expected to play a major role in market dynamics. Currently, prices are hovering above $100. Experts suggest that a recent decision by the U.S. to purchase diesel from Russia may ease global tensions, potentially leading to a decrease in oil prices.
Former President Donald Trump commented on this development via his social media platform, stating, “I have had very successful talks with Russian President Vladimir Putin. It has been agreed that Russia will immediately supply over 300,000 tons of diesel to the U.S. and global markets, with 500,000 tons in November, and an additional 1,000,000 tons shortly thereafter.”
Investors will also be keeping a close eye on U.S. bond yields, which have remained above 5 percent.
Last week was profitable for the Indian stock market, with the Sensex rising by 562.63 points, or 0.78 percent, closing at 72,472.33. The Nifty increased by 98.50 points, or 0.44 percent, finishing at 22,520.45. This marked the first weekly gain for the stock market in eight weeks.
Among the indices, the BSE Telecom sector saw a rise of 3.72 percent, followed by BSE FMCG at 2.43 percent, BSE PSU Bank at 2.31 percent, BSE Financial Services at 1.03 percent, and BSE IT at 0.76 percent. In contrast, the BSE Realty sector dropped by 4.19 percent, BSE Metal by 4.18 percent, BSE Utility by 2.48 percent, BSE Commodities by 2.46 percent, and BSE Power by 2.22 percent.
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