Rupee, oil, global cues to determine market trend: Experts

NEW DELHI: Stock markets would continue to be guided by means of motion of the rupee, industry issues between the US and China and oil prices in a holiday-shortened week forward, say professionals.

The equity marketplace would stay closed Thursday for Muharram.

With the rupee plumbing new lows towards the buck, the federal government Friday announced an array of steps, including elimination of withholding tax on Masala bonds, rest for FPIs, and curbs on non-essential imports, to include the widening current account deficit and shore up the domestic currency.

"Despite sharp fall in rupee and consolidation in domestic markets, we're outperforming other emerging markets. The reasons for this are revival in domestic profits growth, higher economic information and softening of CPI.


"However, some possibility factor like surge in oil prices, strengthening of buck and escalation of industry wars are growing headwinds for the markets. Considering this, marketplace is anticipated to be risky within the close to term," said Vinod Nair, Head of Research, Geojit Financial Services.


Global traits will stay the marketplace on edge, professionals added.


"All eyes will be on crude oil motion and INR as that may be a point of shock for bulls given a continual depreciation in INR. Trade tariffs will be within the entrance seat and Asian markets opening on Monday will set the tone," said Mustafa Nadeem, CEO, Epic Research.


Over the past week, the 30-share BSE Sebsex fell by means of over 299 points. Markets were closed final Thursday for Ganesh Chaturthi.
Rupee, oil, global cues to determine market trend: Experts Rupee, oil, global cues to determine market trend: Experts Reviewed by kailash soni on September 16, 2018 Rating: 5
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