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Dalal Street Week Ahead | 10 key factors that will keep traders busy next week

With the banking index at a record high, analysts expect the positive tone to continue. The IT index also looks upbeat, all set to regain some strength after a year-long corrective phase.

November 13, 2022 / 02:42 PM IST

The market extended its northward journey for the fourth consecutive week ended November 11, and may surpass the record high hit a year back. Falling inflation, the possibility of lower rate hikes by the US Federal Reserve (the Fed), a declining US dollar, and healthy FII (foreign institutional investor) buying supported the market sentiment.

During the week, the Nifty50 climbed more than 200 points, or 1 percent, to 18,350, the highest closing level since October 19, led by buying in banking & financial services, technology, and metal stocks.

The BSE Sensex moved closer to the 62,000 level, rising 845 points to 61,795, but the broader markets had a dismal performance as the Nifty Midcap 100 index fell 1 percent and the Smallcap 100 index declined half a percent.

However, if global markets provide healthy support, then the leading indices may touch record highs, on the back of strong performance by IT and bank stocks. But subsequent to a strong rally, some consolidation can't be ruled out in the coming week, experts said.