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Macroeconomic data, US tariff news likely to drive markets this week
Stock market investors would track macroeconomic data announcements such as industrial production, US tariff related developments and other global trends this week, which may influence sentiment, analysts said.
Trading activity of foreign investors and crude oil prices would also remain in the limelight during the week, experts noted.
"This week brings a series of important economic data releases from India and the United States, which are likely to influence market sentiment and central bank outlooks. In India, the week begins on June 30 with the release of Industrial Production (YoY) for May.
"On July 1, attention will turn to the manufacturing PMI for June, which reflects the health of India's industrial sector and order inflows. This will be followed by the services PMI on July 3," according to Bajaj Broking Research.
Equity benchmarks staged a sharp rally last week helped by easing geopolitical tensions in the Middle East and a steep decline in crude oil prices. Last week, the BSE benchmark surged 1,650.73 points or 2 per cent, and the Nifty climbed 525.4 points or 2 per cent.
"As the first quarter earnings season draws near, investors are turning their focus to corporate results for early indications of growth trends. There is also heightened anticipation around trade agreements that the United States is expected to finalize with major global partners in the coming week.
"In addition, market participants are closely watching key economic indicators such as the United States non-farm payroll and unemployment figures, along with India's industrial production data, to gauge the strength and trajectory of the economic recovery both domestically and internationally," Vinod Nair, Head of Research, Geojit Investments Limited, said.
Stock markets rallied for the fourth trading sessions till Friday. In the past four trading days, the BSE benchmark Sensex jumped 2,162.11 points or 2.64 per cent and the NSE Nifty climbed 665.9 points or 2.66 per cent.
Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, said, "We expect the market to witness a steady uptrend, supported by improving institutional inflows, prospects of a US-India trade deal..." "Domestically, high-frequency data such as IIP and PMI figures will be in focus, along with monsoon progress and FII activity, to gauge short-term market trends," Ajit Mishra SVP, Research, Religare Broking Ltd, said.
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