Volatile Week Ahead for Global Markets Amid Key Economic Events

Indian markets experienced selling pressure post-Muhurat trading. Global markets brace for a volatile week with pivotal events including the US Presidential Election, Federal Reserve meeting, OPEC+ decisions, and Warren Buffett's investment strategy. Meanwhile, key financial results are anticipated in India.

The Indian stock market faced renewed selling pressure following gains during Muhurat trading, as indices opened lower this Monday. The Nifty 50 index saw a slight gain of 11 points, up 0.05% at 24,315.75, while the BSE Sensex dropped 10 points, or 0.01%, to 79,713, falling further during early trade.

Market experts forecast a volatile week globally due to significant economic events. Investors are urged to proceed carefully as Ajay Bagga, a banking and market expert, outlined four key events. The US Presidential Election on November 5 is the first, followed by a Federal Reserve meeting expected to adjust interest rates by 25 basis points. Meanwhile, the OPEC+ alliance has opted not to increase oil production in response to sluggish demand.

On top of these, Warren Buffett's decision to increase Berkshire's cash reserves to a record USD 325 billion, coupled with reduced share buybacks, signals anticipated market downturns, adding to the week's potential volatility. Of the Nifty 50 stocks, only nine registered gains, led by Mahindra & Mahindra. Quarterly results from key Indian firms are expected today. In Asia, South Korea's KOSPI saw a 1.49% rise, while Japan's Nikkei was closed for a holiday.

(With inputs from agencies.)