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Outcome of US Fed meet to dictate stock market trend: Experts

Monday, September 19, 2016

Stock markets would keenly await the outcome of the US Fed policy meeting this week which would influence trading sentiment going ahead, say experts. "This week, sentiment in the stock markets will be driven by global central banks. Of course, all eyes will be on the US Federal Reserve policy makers. The US Fed will begin their two-day policy meeting on Tuesday," said Vijay Singhania, Founder-Director, Trade Smart Online.

Bank of Japan (BoJ) will also begin its two-day meeting on Tuesday to consider policy, he said. "There are no negatives for the Indian markets right now, except the recent uncertainty about the Fed hike. We expect the liquidity-driven rally to continue," Singhania added.

"The Fed in its meeting scheduled on September 20-21 will provide summary of economic projection which could bring volatility in the market," said Rohit Gadia, Founder & CEO, CapitalVia Global Research. Investors are mainly waiting for the decision by Bank of Japan and Federal Reserve next week which is going to be a major mover of the investor sentiment going forward, Gadia said. Along with this, trend of oil price globally and how rupee trades against the dollar is going to be the key, he noted.

"All eyes are set this week on the outcome of US Fed meeting," said Jimeet Modi, CEO, SAMCO Securities. "The important triggers for the market in the next few weeks will be the Fed meeting scheduled for this week," said Dipen Shah, Sr VP & Head PCG Research, Kotak Securities.

“We maintain our view to focus on global cues until next week and restrict your trades. The downside seems capped in Nifty and possibility of resumption of uptrend is much higher post the prevailing pause,” said Jayant Manglik, President, Retail Distribution, Religare Securities.

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