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Stock Market Live Updates 19 February 2024: Sensex, Nifty to be driven by global factors this week: Analysts
Sensex, Nifty, Share Prices LIVE: The global factors are likely to have a substantial impact on the Indian stock markets this week, as the earnings season is almost over. The market sentiment will be influenced by the movement of crude oil prices, rupee, and the release of US Federal Reserve meeting minutes on February 22. According to Ajit Mishra of Religare Broking Ltd, global cues are expected to dictate the market trend now that the earnings season is over. The Sensex and Nifty closed at 72,426.64 and 22,040.70, respectively, last week, with strong macroeconomic data providing support. Vinod Nair of Geojit Financial Services acknowledged the banking sector’s strong performance, which offset concerns over valuations and margin requirements. Looking ahead, there may be a correction in PSU banks, while sectors such as metals, FMCG, and capital goods may gain momentum due to construction demand and rural revival prospects. Furthermore, new IPOs, including Juniper Hotels and GPT Healthcare, are expected to keep the market active.