Stock Market Outlook for Monday
The Indian stock market is expected to have a cautious start today as global uncertainties loom.
1. Asian Markets Mixed
Asian stocks opened mixed. Japan is on holiday, but South Korea’s Kospi and Kosdaq are seeing gains. Hong Kong may open lower, and Taiwan’s index is up 0.27%.
2. Gift Nifty Prediction
Gift Nifty is trading about 70 points below the Nifty’s last close, indicating a weaker start for Indian indices.
3. Wall Street Wrap-up
U.S. markets closed higher on Friday, boosted by Amazon’s strong earnings despite lower-than-expected job growth. The Dow rose 0.69%, S&P 500 gained 0.41%, and Nasdaq increased 0.80%.
4. U.S. Jobs Report
The latest U.S. jobs report showed slow growth with only 12,000 new jobs in October, much below expectations. Unemployment stayed steady at 4.1%, and wages remained strong.
5. OPEC Delays Production Hike
OPEC has postponed its planned December production increase to keep oil supplies restricted. This is the second delay from OPEC to control supply and support oil prices.
6. Oil Price Surge
Brent crude prices rose 1.55% to $74.23 per barrel, and WTI crude gained 1.63% to $70.62 due to OPEC’s decision and increased Middle East tensions.
7. Dollar Weakens
The U.S. dollar dropped against other major currencies as polling showed no clear frontrunner between Kamala Harris and Donald Trump. Treasury futures also rose slightly.
8. Record FPI Outflow
Foreign Portfolio Investors (FPIs) recorded their highest-ever outflow in October, selling ₹94,017 crore in Indian equities. Total net outflow for the month, including other assets, was ₹96,358 crore.
Key Factors to Watch This Week
- U.S. Presidential Election on November 5
- Federal Reserve’s interest rate decision on November 8
- Ongoing Q2 earnings from major Indian companies
- Crude oil price trends and Middle East conflicts
- FPI flow and other macroeconomic updates
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
