Mon Nov 18 06:54:50 UTC 2024: ## Weak Sentiment to Continue in Indian Stock Markets: Analysts
**Mumbai, India** – Analysts predict a continuation of weak sentiment in the Indian stock market this week, citing several factors. Foreign institutional investors (FIIs) are continuing to sell, driven by better returns on US government bonds and disappointing domestic corporate earnings. This is causing domestic investors to remain cautious.
While the September quarter earnings season has concluded, analysts expect international cues and FII trends to heavily influence market performance. The expectation of no interest rate cuts in December, with a potential cut only in February, is also contributing to the bearish outlook. Technical analysts suggest that even after a slight recovery this week, the market may see further selling pressure. A fall below 23,200 on the Nifty index could trigger a drop to 22,800, they warn.
The banking and pharmaceutical sectors are expected to face headwinds, while IT stocks might see some gains. The market will be closed on Wednesday, October 20th, due to Maharashtra state elections. The election results, due on the 23rd, are also anticipated to impact market movements. With the market closed for one day this week due to the elections, trading will only occur for four days.
First Piper 