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Progress of monsoon and developments in the monsoon session of the Parliament will also be in focus.

Investors on Dalal Street will monitor a fresh round of corporate earnings and the global spread of the delta Covid-19 variant. The trend in global stock markets, 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 also be watched. Going by the buzz in the domestic equity market, here are the top factors that are likely to guide the market going ahead.

Q1 results

Investors will continue to watch June 2021 quarterly earnings for direction. Shree Cement will announce its result on 9 August 2021. Lupin, Power Grid Corporation of India and Siemens will declare their result on 10 August 2021. Aurobindo Pharma, BPCL, Eicher Motors, Hero MotoCorp and Tata Steel will unveil their results on 12 August 2021. HPCL, SBI will announce their results on 4 August 2021. Grasim Industries will declare its result on 13 August 2021.

Macroeconomic data

On the macro front, the Industrial Production and Manufacturing Production data for June will be released on 12 August 2021. The inflation rate for July will be declared on the same day.

Monsoon

Progress of monsoon and developments in the monsoon session of the Parliament will also be in focus. The monsoon session of the Parliament began on Monday (19 July) and it will conclude on 13 August 2021. The government and the opposition are likely to discuss raging issues of the Covid-19 pandemic, farmers’ protest, fuel prices hike and vaccination strategy.

Covid updates

On the coronavirus front, investors would continuously watch out government’s course of action along with progress on the vaccination drive. Besides, as new Covid cases have seen a considerable decline, all eyes would be on state governments for further easing of the restrictions. Globally, the trend of rise in Covid cases on account of the delta variant, especially in the UK and Asia.

Global cues

Overseas, China will announce inflation rate for July on 9 August 2021. In US, the Labor Department’s official jobs report, which typically has more impact with investors, will be released on Friday, 6 August 2021. The jobs report is expected to be a key data point for the Federal Reserve as it considers when to tighten monetary policy.

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