Stock Market Today: Analyzing Top Triggers for Nifty and Sensex Next Week
Key Market Triggers for Next Week
The Indian stock market began October on a disastrous note, with Dalal Street witnessing carnage due to across-the-board selling pressure on weak global cues. The domestic indices experienced a sharp downturn, breaking its three-week winning streak. The significant decline has been attributed to a combination of fundamental challenges, which prompted short-term profit-taking.
In the second week of October, investors will closely monitor key market triggers such as the upcoming Monetary Policy Committee (MPC) meeting by the Reserve Bank of India (RBI), the first set of July-September quarter results for fiscal 2024-25 (Q2FY25), Israel-Iran war, foreign fund outflows, crude oil prices, global cues, domestic and global macroeconomic data.
Domestic equity benchmarks Sensex and Nifty 50 last extended losses for the fifth straight session in exceptionally volatile trade and logged their worst week in over two years amid weak geopolitical tensions and foreign outflows. Selling pressure was widespread, and the overall market breadth favored declines.
Market Performance Overview
- Frontline indices lost about 4.5 percent each for the week, their worst since June 2022.
- The 30-share BSE Sensex tumbled 808.65 points or 0.98 percent, settling at a three-week low of 81,688.45.
- The NSE Nifty 50 slumped 235.50 points or 0.93 percent to settle at 25,014.60.
Investor Insights
The sentiment was bearish from the start, driven by escalating tensions in the Middle East, which raised crude prices amid fears of supply disruptions. Additionally, persistent foreign capital selling raised concerns about a potential fund shift to China following their announcement of a series of stimulus measures, further dampening market optimism. The decline was broad-based, with all major sectors closing in the red except for metals.
Key Triggers to Watch
- Upcoming RBI policy decisions
- Q2FY25 corporate earnings reports
- Israel-Iran conflict updates
- FII and FPI outflows
- Global macroeconomic data releases
As market participants brace for potential volatility, the focus will remain on interest-sensitive stocks amid the RBI policy meeting. The week ahead will be crucial, with investors tracking corporate results, global markets, and macroeconomic data.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.