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New Delhi: The Indian stock market closed September on a high note, enjoying a strong bullish rally mainly due to positive global influences. As October begins, investors are eager to keep an eye on important market factors such as domestic and global economic data, auto sales figures, second-quarter corporate updates, a key meeting by the market regulator, and trends in foreign investments and oil prices.
In the first week of October, there’s expected to be a lot of activity in both the domestic and corporate sectors. The recent market rally was sparked by a significant 50-basis-point interest rate cut by the US Federal Reserve, which indicated confidence in the US economy and also included monetary support from China.
Domestic equity benchmarks, the Sensex and Nifty 50, reached new record highs for six consecutive sessions and marked a third straight weekly gain. This impressive performance was mainly driven by a surge in metal and financial stocks, which attracted a lot of buying interest thanks to improving global and local conditions.
Key Factors To Drive Stock Market Next Week
Auto Sales Data
Investors will be closely watching as major car manufacturers release their monthly sales figures on October 1.
Macroeconomic Data
Important economic indicators, including current account data and various HSBC PMIs (Purchasing Managers’ Index), will also be released this week.
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Quarterly Updates
The focus will shift to the IT and banking sectors as companies prepare to share updates for the second quarter of the fiscal year (Q2FY25). This could lead to movements in specific stocks.
SEBI Board Meeting
The Securities and Exchange Board of India (SEBI) will hold a board meeting on September 30, which may result in announcements regarding both foreign and domestic investors. Analysts expect these decisions to aim at making India a more transparent and flexible trading environment for international investors.
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