The market had a lacklustre week ended November 24 due to the absence of any major global and domestic cues, yet ended higher for the fourth consecutive week.
The coming truncated week (Monday being a market holiday on account of Guru Nanak Jayanti) will be full of news including exit polls after five State elections, September FY24 quarter economic growth, and second estimates for Q3-CY23 US GDP numbers, which seem to be eagerly awaited by the participants.
Overall, the market is likely to get into some momentum after the rangebound trade seen in the previous seven trading sessions, by taking cues from several global and domestic factors, though there may be a bit of volatility due to the expiry of monthly derivative contracts, experts said.
The Nifty50 climbed 63 points to 19,795, and the BSE Sensex rose 175 points to 65,970, supported by auto, banking & financial services, energy, metal and pharma stocks. The broader markets had a mixed trend as the Nifty Midcap 100 index advanced 0.6 percent and Nifty Smallcap 100 index was down 0.4 percent.
“Next week we expect some momentum in market to return as investors will take cues from various economic data including GDP numbers for US, & India,” Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services said.
Source: Money Control
