Analysts predicted that the share market will be influenced by inflation statistics, global trends, and foreign fund trading activity during the holiday-shortened week.
Tuesday’s stock markets will be closed in observance of Independence Day.
The rupee, FII activity, and macroeconomic data will play a major role in determining market moves in the days ahead. Inflation rates are significant domestically. Global focus will be on the US retail sales figures, China’s IIP numbers, and Japan’s inflation data, according to Santosh Meena, Head of Research at Swastika Investmart Ltd.
On the macroeconomic front, Monday would see the release of the wholesale and retail inflation figures for July.
“In the next days, attention will be focused on India’s WPI and CPI inflation statistics, exports, and imports figures. According to Arvinder Singh Nanda, Senior Vice President of Master Capital Services Ltd., “We anticipate that the Indian market will continue to trade in a range and will take further signals from US employment data and the minutes of the Federal Open Market Committee (FOMC) meeting.
This week, Hindustan Copper and ITC will report their financial results.
Trading in the equities market will be influenced by changes in the value of the rupee relative to the dollar and Brent crude, the international oil benchmark.
According to official statistics issued on Friday, the manufacturing sector’s dismal performance in June was a major factor in the decrease in India’s industrial output growth, which fell to a three-month low of 3.7%.
Last week, the NSE Nifty dropped 88.7 points or 0.45% while the BSE benchmark lost 398.6 points or 0.60 percent.
According to Vinod Nair, Head of Research at Geojit Financial Services, “the Indian market experienced bearishness during the last week that focused on economic data as inflation concerns dented domestic sentiments.”
