Business Today on Nostr: Amid declining volatility and lack of fresh triggers: here is what the market experts ...

Amid declining volatility and lack of fresh triggers: here is what the market experts suggests for stock markets, FIIs, Crude and Gold?
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This week India’s Manufacturing PMI, Services PMI, Bank Loan Growth and Deposit Growth data, along with the Industrial Production, and Jobless Claims in the US are major events that will keep the stock markets buzzing. Investors will be eyeing the HSBC Composite PMI Flash, HSBC Manufacturing PMI Flash, HSBC Services PMI Flash data to be announced on June 21. The first meeting of the Goods and Services Tax (GST) Council after the Narendra Modi-led government took charge at the Centre for the third consecutive term, will be held on June 22 in New Delhi. Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, suggests that stability has returned to the market as indicated by the sharp fall in India VIX from 27 on June 4th to 12.82 on 14th June. The resilience of the market and eagerness of retail investors to buy every dip in the market will force FPIs to reduce their selling. On the global front, investors would be eyeing economic data from the US. According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, Nifty continued to show range bound action within 23300-23500 levels. Saumil Gandhi, Research Analyst for Commodities at HDFC Securities, said Crude oil rose on Friday as Russia agreed to dial back output. Jateen Trivedi, VP Research Analyst for Commodity and Currency at LKP Securities, commented that gold experienced a volatile week, finding support around ₹70,700 and resistance near ₹72,150.

#StockMarkets #Fiis #Crude #Gold

https://www.businesstoday.in/markets/stocks/story/amid-declining-volatility-and-lack-of-fresh-triggers-here-is-what-the-market-experts-suggests-for-stock-markets-fiis-crude-and-gold-433475-2024-06-16