The last month of the year has started yesterday i.e. Sunday. But, it will start in the stock market from Monday. In the last week of november, on the 29th, the indian stock market saw a rise of about 1 percent. At the same time, how the upcoming week is going to be for the market will depend on some major factors. RBI policy meet, PMI data and crude oil prices will be the main factors in these big factors. Let us now understand about it in detail.
No change in repo rate expected
RBI policy meet. This is the last MPC meeting of 2024 and experts do not see any possibility of change in the repo rate. Although the economy saw slow growth in the september quarter, inflation reached 6.21% in October, which is much higher than the RBI target of 4%. Experts believe that a cut in interest rates is possible in the february or april meeting. In this meeting, RBI will discuss its inflation target and measures for economic stability.
PMI data will be monitored
Globally, US economic data will be the main focus for investors. These include data on factory orders for the month, vehicle sales, unemployment rate and JOLTs job openings. Apart from this, speeches of other officials including Federal Reserve Chairman Jerome Powell can also give important indications. These figures will be used to decide the Federal Reserve's policy meeting on december 19. Apart from this, november manufacturing and services PMI data of major countries like America, Europe, China, and japan will also be monitored.
oil prices and market trend
oil prices fell last week on hopes of easing tensions in the Middle East. Brent crude futures fell 3.82% to $ 72.3 per barrel. Experts believe that this is a positive sign for indian equity markets. Along with this, the expectation of additional supply by the international Energy Agency (IEA) in 2025 may increase pressure on oil prices. oil prices may remain volatile in the coming week.
click and follow Indiaherald WhatsApp channel