Find the Various Factors That Are Responsible to Drive the Market This Week

October 22, 2018

In this week also equity barometer Sensex managed to close a highly volatile week with gains. This has continued for five consecutive weeks. The nerves of traders got soothed as the jump in the rupee and drop in crude oil prices was observed. In the last session of the week, this has triggered all-round buying and offered the bulls a booster doze to help regain control of the market.

Today, the BSE Sensex surged 356 points, or 1.04 per cent, for the week to settle at 34,733, while the NSE Nifty50 gained 156 points, or 1.51 per cent, to 10,472.

Major factors that were swaying market mood through the week are the rupee, US dollar, bond yields and oil. It will continue to dominate proceeding through the coming week, which will be a truncated one as Thursday is a trading holiday for equities, commodities and forex markets on account of Dussehra.

The market will closely watch the inflation data based on wholesale price index (WPI) for September. The retail inflation data, known as CPI, for September was less than projected but industrial production (IIP) print for August frustrated as it slipped to a three-month low of 4.3 per cent. Consumer inflation for September stood at 3.77 per cent, falling short of the RBI’s medium-term target of 4 per cent.

 

About nehanchal

I am Nehanchal. 3 years ago, I started my career as content writer at Money classic Research. I am fascinated with this job and I feel habit of reading and writing enhances your skills. I love to write technical and health blogs. However, I am engineer turned writer and pursued graduation at Rajiv Gandhi Prodyogiki Vishwavidhyalaya.
By: nehanchal

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