Stock Market Watch: Key Factors To Influence Nifty 50 And Sensex Next Week – Check

New Delhi: The Indian stock market remained under pressure throughout October 2024, grappling with weak global cues, high volatility, and persistent selling by foreign investors. As bears tightened their grip on Dalal Street, the key indices, Nifty 50 and Sensex slipped into bearish territory just before Diwali 2024 and the onset of Samvat 2081.

Stock Market Performance

The Nifty 50 dropped 2.7 per cent this week, while the Sensex shed 2.24 per cent, four consecutive weeks of losses. Both indices also ended lower for the fifth straight session, with the Nifty falling into the oversold territory for the first time in a year as its Relative Strength Index (RSI) slipped below 30. By the week’s close, the Nifty stood at 24,180.80 and the Sensex at 79,402.29, both near their weekly lows.

Sector Performance

The broader indices also saw sharp corrections, falling between 5.75 per cent and 6.45 per cent, reversing their earlier outperformance. Since September 27, when Nifty hit a record high, the index has dropped by nearly 8 per cent. Among sectors, realty, metals, and auto stocks took significant hits, while the IT sector managed to remain steady.

Which Factors Can Fuel Stock Market Next Week?

In the last week of October, investors are focusing on several critical factors, including corporate earnings for Q2FY25, the monthly derivatives expiry, and geopolitical tensions in the Middle East. Other key triggers include foreign fund flows, oil prices, US election polls, and domestic as well as global macroeconomic data.

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Here are the breakdown of the factors that may contribute to the stock market movement next week:

FIIs vs DIIs

The negative sentiment was fueled by foreign investors selling off their holdings, with Foreign Institutional Investors (FIIs) pulling out Rs 20,025 crore this week. In contrast, Domestic Institutional Investors (DIIs) purchased equities worth Rs 22,914 crore. Overall, FIIs have offloaded Rs 1 lakh crore in October, while DIIs have absorbed around Rs 97,000 crore worth of stocks.

Q2 Results To Watch Next Week

In the coming week, major companies will declare their July-September (Q2FY25) earnings. Stocks to watch on October 28 include ICICI Bank, IDFC First Bank, Yes Bank, JK Cement, REC Ltd, and Coal India. Other major announcements are expected from Adani Power, Bharti Airtel, Federal Bank, RailTel, Tata Technologies, Adani Enterprises, Adani Ports, Maruti Suzuki, Dabur, and JSW Infrastructure in the days ahead.

Global Cues And Oil Prices

Global markets, especially the US, remain in focus amid speculation about possible interest rate cuts and the upcoming presidential election. Over the past week, the Dow Jones Industrial Average (DJIA) dropped by 2.5 per cent, while the S&P 500 and Nasdaq Composite showed mixed trends.

Oil prices have also surged, with crude gaining 4 per cent over the last five days due to concerns about supply disruptions from the ongoing conflict in the Middle East.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money-related decisions.) Related News |

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