3 Global Factors That Are Likely to Impact the Nifty This Week
By Aditya Raghunath
Investing.com -- Asian markets have opened lower on Monday with the Nikkei 225 trading down 0.4% and KOSPI 50 down 0.37% as news of US sanction on China became stronger sparking fears of increased geopolitical tension.
Nifty Futures are trading 0.39% lower in Singapore. Friday, December 4, was when both Indian benchmark indices hit record highs. Market players could use the early part of this week to consolidate their gains.
Crude oil prices have fallen 0.48% to $46.04 as COVID-19 cases have surged in the West.
Apart from the US-China face-off, other external factors that will drive Indian stock market volatility this week include:
- Push on US stimulus package: $908 billion or $500 billion? That’s the question US policymakers have to grapple with this week. November’s job report was the slowest one in six months and there is an expectation that a package will be passed soon.
- Euro-UK Brexit deal: The European Union and the UK were supposed to have finalized talks last week on a post-Brexit trade deal before the transition agreement ends on December 31, 2020. That still hasn’t happened.
- Vaccine rollout in the UK: The Pfizer-BioNTech vaccine will be rolled out this week as the UK starts administering the vaccine to frontline healthcare workers, home care staff, and residents starting Thursday.
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