Global developments such as macroeconomic data and the decision of the US Central Bank Federal Reserve interest rates this week to determine the direction of stock markets. Analysts have expressed this view. “Vinod Nair of the Geojit Financial Services Research Division said,” This week the market will look at big data such as inflation and import-export.
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“The overall market trend is positive,” said Siddharth Khemka, Head of Retail Services, Motilal Oswal Financial Services. The market is showing elasticity between good liquidity conditions, positive developments on the vaccine front and hopes for recovery in the economy. At the same time, however, he said the market would remain at the same level for some time due to the crisis in the US and the outcome of Brexit negotiations.
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The 30-share BSE Sensex rose 1,019.46 points, or 2.26 per cent, in the previous week. Ajit Mishra, vice president (research) of Religare Broking, said, “There are some signs of strength in the index, which is good from a market standpoint.” Reliance Securities Head (Strategy) Binod Modi said, “If there is no agreement on Brexit, it could affect the market position in the coming days. The deadline for this is December 31st.”
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He said that the global trend of central banks, the prospects for corporate earnings reforms and the weak dollar index favored the flow of foreign investment investors (FPIs) in domestic markets. In addition, investors keep track of the fluctuations of crude oil and the rupee.
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