Equity Markets To Focus On Macro Data, Global Factors, State Polls This Week: Experts
With the quarterly earnings season almost over, the focus of the equity markets this week would shift to macroeconomic data announcements, global factors and state polls, said experts.
“In the short term, we are expecting some relief in the market given a big correction in the last two months and rebound due to technical factors. For the week ahead, CPI inflation, WPI and IIP are key events,” said Vinod Nair, head of research at Geojit Financial Services.
Industrial production and retail inflation figures will be announced on Monday, while WPI inflation data is scheduled for Wednesday.
“The result season has almost come to an end which brought some cheers to the market, but the short-lived euphoria seems to be over as now the domestic issues of state elections will shift the focus back to Indian politics,” said Jimeet Modi, founder and chief executive officer of Samco Securities and StockNote.
Chhattisgarh will be the first to go to polls in multi-phased voting, beginning Nov. 12.
Polling for all five states, including Madhya Pradesh, Mizoram, Rajasthan and Telangana, will conclude by Dec. 07. Results will be announced on Dec. 11.
Market participants would also track the trend in crude oil prices and movement of the rupee.
Over the last week, the BSE Sensex gained 146.9 points to end at 35,158.55.