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Global events key for stock markets this week

Monday, March 19, 2018

Global events will be crucial in deciding the trend for the equity market this week amid rising concerns of trade headwinds, say experts.

Markets are currently reeling under global trade worries and domestic political concerns.

"Q3 results have given some signs of improvement in corporate earnings. The long term outlook for the domestic market continues to be strong.
However, rising concerns of global trade headwinds, domestic NPA issues and upcoming state elections will keep market on tenterhooks. US FED policy meet this week is the key event," said Vinod Nair, Head of Research, Geojit Financial Services.

"The FOMC meet, lined up this week, will be important to watch out from the global markets view point," said Vikas Jain - Senior Analyst, Reliance Securities.

“In the coming week, traders will look for global clues and the movement of rupee against the dollar for direction next week. The US Federal Reserve's two-day monetary policy meeting is scheduled on March 20-21. Strengthening labor market and a steady increase in price pressures could pave the way for the Federal Reserve to raise interest rates in upcoming meeting. The US central bank has forecast three rate increases for this year, but there are also expectations that it will raise its projection to four hikes at the meeting," said Prateek Jain, Director, Hem Securities.

SAMCO Securities, Founder & CEO, Jimeet Modi said, "Global headwinds are negative and will decide the direction in the short-term".

Over the last week, the Sensex recorded a fall of 131.14 points, or 0.39%, and the NSE Nifty lost 31.70 points, or 0.30%.

On Friday alone, the benchmark index slumped 509.54 points or 1.51%.

"The fall can largely be attributed to both domestic as well as international factors. Globally, trade war concerns have emerged and markets are worried that it could deteriorate the just improving global growth rate. Domestically, since Telugu Desam Party (TDP) has pulled out of NDA, political uncertainties have resurfaced," said Arun Thukral, MD & CEO, Axis Securities.

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