Analysts: US presidential election, Fed interest rate decision, FIIs trade with key players driving the market this week

November 5 US presidential elections, Federal Reserve interest rate decision, business activity foreign investorsAnalysts said upcoming quarterly earnings of domestic companies are the main triggers that will affect sentiments in the Indian stock market this week.

In the eventful week ahead, many macroeconomic Experts said data announcements and global trends will also drive the markets.

“The next week is set to be eventful on the global front. The US presidential election on November 5 is a key focus and the US FOMC (Federal Open Market Committee) meeting will also be vital. Geopolitical tensions and oil price movements will continue to play a key role. Swastika Investmart Ltd. Head of Research Santosh Meena said:

• Also read: SEBI recommends ₹1 crore minimum investment, mandatory payment form for securitized debt instruments

Domestically, the final phase of second quarter earnings will be critical. foreign institutional investor (FII) Meena added that the behavior will remain under close monitoring.

“The market outlook will be driven by US presidential elections and key macroeconomic data such as HSBC India manufacturing PMI, services PMI, US Fed interest rate decision, US S&P global composite PMI, US S&P global services PMI and BoE (Bank of Bank of America) Master Capital Palka Arora Chopra, Director, Services Ltd, said, “(UK) interest rate decision.”

Leading exchanges BSE And NSE organized a one-hour special event’Muhurat Ticaretsession marking the beginning of the new Samvat 2081 on the occasion of Diwali on November 1.

Last week, BSE’s benchmark index Sensex rose by 321.83 points, or 0.40 percent.

“This week, investors’ attention will be on developments in the US markets, especially the upcoming elections on November 5 and the Federal Reserve’s policy meeting,” said Ajit Mishra, senior vice president of research at Religare Broking Ltd.

• Also read: The market capitalization of 6 of the 10 most valuable firms increased by ₹1 lakh crore; State Bank and ICICI Bank are the top earners

“On the domestic front, earnings reports, including from important companies, Doctor Reddy‘s, Titan, Tata Steel, M&M’s And Tata Motors will be in focus. “Also, the release of key economic indicators such as HSBC manufacturing PMI and services PMI will also give an idea about the economic momentum of the country,” Mishra said.

Incessant selling by FIIs last month largely contributed to the decline of benchmark indices by over 7 per cent from all-time highs.

“Global markets will react to the US presidential elections for a few days and then fundamental factors such as US GDP growth, inflation and Fed rate cut will influence market movements,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.