Macroeconomic data, crude oil, Q3 results among key factors that may decide market trend next week
Macroeconomic data, the movement of rupee against the dollar and crude oil prices will dictate trend on the bourses in the near term.
Macroeconomic data, the movement of rupee against the dollar and crude oil prices will dictate trend on the bourses in the near term. Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will be in focus in the week ahead.
Among key results, ONGC will announce result for quarter ended 31 December 2020 on 13 February 2021.
Nestle India will declare the result on 16 February 2021 and Ambuja Cements will announce its result on 18 February 2021.
In economic data, WPI inflation for January 2021 is due on 15 February 2021.
Global cues will continue to be in focus as a resurgence in virus cases around the world, leads to more restrictions and more pressure on economic recovery. Updates related to Covid-19 will be closely watched. Also on the radar will be news on Covid vaccine development. From here on the pace of the improvement of economic indicators along with outcomes of a possible vaccine or cure for Covid-19 would determine the movement of the market.
Total Covid-19 confirmed cases worldwide stood at 10,77,87,428 with 23,68,530 deaths. India reported 1,35,926 active cases of Covid-19 infection and 1,55,447 deaths while 1,05,89,230 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Overseas, Japan will announce Balance of Trade data for January on 17 February 2021.
In US, retail sales for January will be announced on 17 February 2021.
In Europe, ZEW Economic Sentiment index for February will be released on 6 February 2021.
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