Global trends, macroeconomic data, RBI interest rate decisions key factors in markets this week: Analysts
Trading sentiment in the equity market this week will be guided by global trends, foreign exchange movements, macroeconomic data announcements and the RBI’s interest rate decision, say analysts.
The monthly announcement of auto sales data will be followed by investors this week.” Looking ahead, markets are likely to react to disappointing GDP growth of 5.4 pc on Monday.
The RBI’s upcoming policy will be important, so both the interest rate decision and commentary are key areas of focus.” Globally, political tensions, particularly the Russia-Ukraine situation, remain a concern.
Key macroeconomic data such as manufacturing PMI from India, US and China, as well as US jobs data and Fed Chairman Jerome Powell’s speech, will also impact market sentiment,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
India’s economic growth slowed to a two-year low of 5.4 percent in the July-September quarter of this fiscal due to poor performance in the manufacturing and mining sectors and weak spending, but the country continued to be the fastest growing economy. , data shown on Friday.
The Indian equity market ended last week on a positive note after experiencing major volatility.” Market outlook will be guided by major domestic and global economic data such as India’s manufacturing PMI, services PMI, interest rate decision, US S&P global. i – Composite PMI, manufacturing PMI, services PMI, non-farm payrolls and initial jobless claims,” said Palka Arora Chopra, Director, Master Capital Services Ltd.
Last week, the BSE benchmark Sensex jumped by 685.68 points or 0.86 percent while the NSE Nifty rose by 223.85 points or 0.93 percent.” Participants will start by reacting to the GDP data released after the market on Friday.
The focus is on the RBI’s monetary policy review. Additionally, high-frequency indicators such as auto sales, as well as manufacturing and services PMI data, are expected to provide another market indicator.
International inflows will also remain focused as a major driver of sentiment,” said Ajit Mishra – SVP, Research, Religare Broking Ltd. Movements in the Brent crude oil and rupee-dollar rate will also set market trends, say analysts.
