Dalal Street Week Ahead | 10 key factors that will keep traders busy next week

 
The market is likely to see volatile and rangebound trade in the coming holiday-shortened week with the focus remaining on the global banking system in the absence of key driving factors on the domestic front, experts have said

March 26, 2023 / 10:40 AM IST

Markets
Markets

The market fell nearly 1 percent for the week ended March 24, extending the downtrend for a third consecutive week. A correction in European banking stocks after rate hikes by the European Central Bank, consistent selling by foreign institutional investors (FIIs) and a surprise hike in securities transaction tax (STT) on futures and options trade by the government weighed on the sentiment.

The BSE Sensex dropped 0.8 percent to close at 57,527 and the Nifty50 declined 0.91 percent to 16,945, the lowest closing level on weekly basis since July 2022. Technology, auto, metal and realty stocks corrected the most, while FMCG and pharma outperformed the benchmarks.

The broader market was hit hard, falling more than benchmarks. The Nifty midcap 100 index was down 1.75 percent and the smallcap 100 index slipped 1.88 percent during the week to close at the lowest levels since July 2022.

The market is likely to see volatile and rangebound trade in the coming holiday-shortened week with the focus remaining on global banking system in the absence of key driving factors on the domestic front, experts said.
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