Markets to focus on macro data, global trends, foreign investors activity: Analysts

PTI, Aug 27, 2023, 10:57 AM IST

Representative image (Source: Pexels)

Macroeconomic data announcements, global trends and trading activity of foreign investors would dictate the equity markets this week, analysts said.

Marketmen will also focus on the Annual General Meeting of Reliance Industries Ltd which will be held on Monday.

”This week’s focal point is the eagerly awaited Reliance Annual General Meeting (AGM) on Monday, August 28. This event is poised to have some impact on the market’s trajectory. Shifting to the macroeconomic landscape, India is set to reveal its Q2 GDP figures on Thursday, shedding light on the nation’s economic performance.

”Manufacturing Purchasing Managers’ Index (PMI) data will be disclosed on Friday,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.

He further added that Friday will feature the disclosure of the US unemployment rate and nonfarm payroll statistics.

Cues from China, foreign investor activities, and fluctuations in the dollar index and US bond yields will play a pivotal role in shaping market dynamics throughout the week, Meena said.

Auto companies would remain in focus on Friday amid monthly sales data announcement.

”Global and domestic macroeconomic data, trends in global stock markets, crude oil prices, global cues, movement of the rupee against the dollar, and investment by FIIs and DIIs will be in focus.

”Some macroeconomic key events that will drive the market in the coming week are US GDP data, US unemployment rate, US manufacturing PMI, initial jobless claims, India’s GDP, RIL AGM,” said Arvinder Singh Nanda, Senior Vice President, of Master Capital Services Ltd.

Equity benchmark indices may face volatile trends amid the monthly derivatives expiry on Thursday.

Last week, the BSE benchmark declined 62.15 points or 0.09 per cent and the Nifty dipped 44.35 points or 0.22 per cent.