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Domestic stock market will catch pace with global signals, economic data will remain on watch

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New Delhi. The domestic stock market will pick up momentum this week from signals received from foreign markets. However, investors will keep an eye on the key economic data released at the end of the week. Crude oil prices, the outcome of the Fed’s meeting, the movement of the domestic currency rupee against the dollar and the bond market stance will also determine the direction of the country’s stock market. After the good employment data in the US, the global stock market has been strong in the past week, which will have an impact in the Indian stock market in the initial session of this week. According to the data released last week in the US, 3.79 lakh people got new jobs in February, which reduced the unemployment rate to 6.2 percent, which is a good sign of improving the health of the economy.

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The market will be disturbed by the US movements
However, the yield of the US bond may come back in the stock market any faster. In the hope of getting good returns from bonds in the US, foreign investors start withdrawing their money from the market of emerging economy like India. Hence, the increase in selling by Foreign Institutional Investors (FIIs) may slow down the business trend in the market. At the same time, the results of the meeting of the US Central Bank-Federal Reserve will come on Wednesday, which will await the market. After the announcement of the results of this meeting, the market’s confusion about the Fed’s stance on the monetary policy front will be overcome. A day after this, on Thursday, the European Central Bank will announce its decision on interest rates.

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The eyes will also be on domestic data
Trading will remain closed in the Indian stock market due to a holiday on Mahashivaratri on Thursday this week. On the next day on Friday, the figures for industrial production and manufacturing output as well as the February price of retail inflation based on the Consumer Price Index will also be released. The market will keep its eyes on these key economic data. At the same time, the data released on the foreign front will also have an impact on the stock markets of India and abroad. During this week, the inflation data for the month of February will be released in China on Wednesday. On the same day, the inflation data for the month of February will also be released in America. Experts say that apart from the economic movements of the country and the world, the market is also keeping an eye on the progress of the ongoing corona vaccination campaign in India and the political upheaval regarding the assembly elections of the five states.

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