Trading exercise within the fairness markets can be guided by a bunch of macroeconomic information bulletins scheduled in the course of the week, aside from world tendencies amid ongoing considerations over excessive inflation, analysts stated. Foreign institutional buyers (FIIs), a key driver for the Indian markets, would even be tracked for cues, they added.
“Market will stay busy with macro numbers this week the place GDP, auto gross sales and PMI numbers can be elements on the home entrance, whereas PMI numbers of assorted nations and unemployment information of the US can be necessary world macro numbers.
“Amid all this, movement of dollar index and crude oil prices will continue to have an impact on market volatility. FIIs are still in selling mode where it will be interesting to see whether they start some buying in the Indian market amid improved sentiments,” stated Santosh Meena, Head of Research, Swastika Investmart Ltd.
In the final batch of earnings, firms like Aurobindo Pharma, Jindal Steel and Sun Pharma will announce their numbers. “This week marks the start of the brand new month additionally and contributors can be intently eyeing necessary high-frequency information like auto gross sales, manufacturing and providers PMI information.
“Before that, GDP data, which is scheduled on May 31, will be in focus. Apart from these, updates on monsoon progress will also remain on radar,” stated Ajit Mishra, VP – Research, Religare Broking Ltd. Last week, the Sensex jumped 558.27 factors or 1.02 per cent and the Nifty gained 86.30 factors or 0.53 per cent.
Vinod Nair, Head of Research at Geojit Financial Services, stated, “Towards the end of the last week, the market was able to recoup its losses following favourable retail earnings in the US and reduced FII selling. For this to sustain, the actions undertaken by the Fed and RBI in June will be an important factor.” Moreover, motion of Brent crude oil and rupee in opposition to the US greenback would even be monitored by buyers.
Yesha Shah, Head of Equity Research, Samco Securities, stated, “In India, amidst global recessionary worries, data on Indian GDP growth is eagerly awaited. Apart from the GDP print, the monthly sales of auto companies will also be in the limelight. Given the series of data releases, this week will undoubtedly be eventful.”
Source: www.financialexpress.com”