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Macro data to set trend in holiday-shortened week
Macroeconomic data, progress of monsoon rains and trends in global markets will dictate the trend on the stock markets in a truncated trading week ahead,” said Vijay Singhania, Founder-Director of Trade Smart Online.
New Delhi : Macroeconomic data, index of industrial production (IIP) and inflation, will drive stock market sentiment in a holiday-shortened week ahead, say experts. The stock market will remain closed on Tuesday on account of ‘Bakri Id’.
Macroeconomic data, progress of monsoon rains and trends in global markets will dictate the trend on the stock markets in a truncated trading week ahead,” said Vijay Singhania, Founder-Director of Trade Smart Online.
IIP and inflation data are slated for this week which may also influence the trading sentiment. Inflation data based on the consumer price index (CPI) for August and IIP will be released on Monday, while the wholesale price index (WPI) is scheduled for Wednesday.
After the recent surge, we would see traders preferring to book some profit at the higher level, which will add to the market pressure in the coming week. We think, it is normal to see a pause or consolidation around the record high levels,” Singhania added.
Coal India’s Q1 results are also scheduled for this week. Over the past week, the Sensex climbed 265.14 points or 0.92 per cent and the NSE Nifty rose 57.05 points or 0.64 per cent. Both indices recorded second weekly gains.
