Analysts list out factors that will dictate stock markets trajectory this week
PremiumMarket participants would also monitor the movement of Brent crude, investment pattern of foreign institutional investors and the rupee
New Delhi: Stock market analysts have opined about what all may drive stock markets trajectory this week. According to analysts, macroeconomic data, the pace of vaccination and global trends would be the major drivers for the domestic equity markets.
Auto sales
Auto companies are going to remain in focus, as they are going to declare their monthly sales number for the month of June on July 1.
Market Manufacturing PMI
Nikkei Markit Manufacturing PMI numbers are going to announce on July 1.
Monsoon
Besides, the progress of the monsoon will also be monitored.
"This week marks the beginning of the new month also, so participants will be eyeing the high-frequency indicators like auto sales and manufacturing PMI during the week. Besides, the progress of monsoon will also remain on their radar," PTI quoted Ajit Mishra, VP Research, Religare Broking.
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Covid-19 and vaccination
"While the pace of vaccination drive is certainly encouraging as it gives hope of further unlocking by the states, the cases of new COVID variant might derail the plans," said Ajit Mishra, VP Research, Religare Broking, PTI reported.
FII, Brent crude and rupee
Market participants would also monitor the movement of Brent crude, investment pattern of foreign institutional investors and the rupee.
Nirali Shah, Head of Equity Research, Samco Securities said, "Domestic indices are expected to mirror global equities. June auto sales numbers would give investors a fair idea around the revival of ground-level sentiment," PTI reported.
Indian benchmark indices gained for the second straight session on June 25 amid volatility and on weekly basis managed to bounce back with a per cent gain.
At close, the 30-share BSE benchmark was up 226.04 points, or 0.43 per cent at 52925.04, and the Nifty was up 70 points, or 0.44 percent, at 15860.40.
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