The trading actions of international funds and variables will decide the market’s future trajectory this week. No notable indications are anticipated this week, according to Santosh Meena, Head of Research at Swastika Investmart Ltd. Thus, a fierce battle between the bulls and the bears is seen. After the Federal Open Market Committee meeting, the second wave of epileptic selling has hit the US market. In response to amid fall in the equities markets, the market capitalization of nine of the top ten most valuable corporations of India fell by a combined ₹ 1,22,092.9 Crore last week. The 30-shares Sensex index of the BSE dropped 843.86 points or 1.36% last week. Except for HDFC Bank, none of the remaining nine firms’ market values increased throughout this time. These companies include ICICI Bank, Hindustan Unilever, Infosys, and Tata Consultancy Services.
Meena continued by saying that while FIIS were net sellers for a portion of December, institutional inflows would be another significant factor that might affect the market. Significantly, FIIS had made equity investments totaling ₹ 10,555 Crore so far in December. According to Ajit Mishra, vice-president (Technical Research), Religare Broking Ltd., the market would be impacted by global indexes, particularly US cues, in the absence of any significant events. Global central banks, including the Bank of England (BoE) and the European Central Bank (ECB), followed the US Federal Reserve in hiking interest rates and making hawkish statements.
