The global stock market had a tough time this week. It’s mainly because of problems in the Middle East, interest rates, and oil prices going up. This made stock markets in the US, Europe, and Asia drop.
US Stock Market News
There were some mixed messages in the US economy. On one hand, people were shopping more (retail sales went up), and fewer people were losing their jobs (jobless claims were low). On the other hand, factories weren’t doing so well, but they did a bit better in September. More homes got started in September, but building permits dropped a lot.
European Stock Market News
Europe had its share of problems. Stock markets like FTSE MIB, DAX, CAC, and FTSE 100 also went down by 2% to 3%. People were worried about interest rates and oil prices going up. Some companies didn’t do well in their financial reports, which made things even worse.
The European Central Bank watched oil prices closely. They said that oil prices going up because of the Middle East problems might make things more expensive, but they also said they’d keep interest rates steady for a while.
Asian Stock Market News
Asia also had a tough time. People were worried because interest rates went up in the US, and there were problems in the Middle East. India’s stock market went down after two weeks of going up, and Japan’s Nikkei dropped more than 3%.
Chinese Stock Market News
China had its own problems because of the property market. Even though China’s economy did okay and people were buying more things, there were big problems in the property business. One of China’s biggest property companies couldn’t pay its debts, and house prices in China’s big cities went down for three months in a row.
Hong Kong
In Hong Kong, the Hang Seng Index also went down because of these global problems.
As we get closer to Monday, October 23, 2023, people are wondering if Nifty and Bank Nifty will go up or down. It’s hard to say because the world is in a bit of a mess right now. How things go will depend on what happens in the world, what banks do, and what news comes out.
If you’re thinking about investing, it’s important to be careful and keep an eye on what’s happening. It might be a good idea to talk to a financial expert and think about different ways to invest your money so you can be ready for whatever comes your way.
Nifty & Bank Nifty Will Be Gap Up Or Gap Down on Monday, 23 October, 2023?
Based on all the technicals and global sentiments, we expect flat to gap down opening in Nifty and Bank Nifty on Monday, 23 October, 2023.
You can read this article to learn the formula to predict Gap Up and Gap Down: How to Predict Gap Up and Gap Down in Nifty & Bank Nifty
