FOMC, FII action among 10 factors to dictate D-Street mood this week
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Nifty ended the week with 3.6% gains that saw two big events – the mother-of-all election results and the Reserve Bank of India (RBI) monetary policy. When markets resume trading on Monday, a host of important domestic and global events lined up during the holiday-truncated week are likely to impact them. Pravesh Gour, Senior Technical Analyst at Swastika Investmart, now focuses on global factors including the US Central Bank's Federal Open Market Committee (FOMC) meeting, and the rupee’s movement against the dollar crude oil and commodity prices. Additionally, investments by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will remain under close observation, he added. Factors that are likely to impact movement when markets reopen this week: 1) Fed FOMC While it is unlikely the US Central Bank will cut the rate when its Federal Open Market Committee (FOMC) meets this week on June 11 & 12, the Street...