Ahead of Market: 10 things that will decide stock market action on Monday
Sensex and Nifty ended last week lower amid range-bound trading, with broader markets also under pressure. Analysts identified four key factors that could drive Dalal Street this week, placing Nifty support at 24,200-24,230 and resistance at 24,500-24,550.
Ahead of the Indian stock market’s action on Monday, August 17, analysts highlight key factors that may influence Dalal Street. Over the past week, the Sensex and Nifty recorded slight losses despite oil prices stabilizing around $87 per barrel, with the Sensex falling around 71 points to close at 78,009 and the Nifty 50 losing 30 points to end at 24,366.
Broader markets also slipped into the red, with the Nifty Smallcap 100 and Nifty Midcap 100 indices falling by around 0.7%. Vinod Nair, Head of Research at Geojit Investments Limited, notes that although the market trend remained sideways on Friday, investor attention was on greater clarity regarding energy prices and global bond yields.
Better-than-expected corporate earnings and supportive domestic factors could provide opportunities for a bottom-up stock selection approach, coupled with a stable rupee, a moderation in India's 10-year bond yield, and improved Foreign Institutional Investor participation.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
