FII inflows, global cues, macroeconomic data among key factors that may guide market next week
Going by the buzz on Dalal Street, here are the top factors that are likely to guide the market going ahead.
Investors would keep a close watch on the domestic and global macroeconomic data next week along with trends in global markets. The domestic equity market was closed on Friday on account of Ganesh Chaturthi. In the truncated week, domestic benchmark equity indices logged small gains. During the week ended Thursday, September 9, the benchmark BSE Sensex rose 175 points or 0.30% to settle at 58,305. The Nifty 50 index gained 45 points, or 0.26%, to end at 17,369. On the other side, the broader markets outperformed as the BSE Midcap index added 323 points, or 1.33%, to settle at 24,705. The BSE Smallcap index advanced 339 points, or 1.24%, to settle at 27,645. Going by the buzz on Dalal Street, here are the top factors that are likely to guide the market going ahead.
FII flows
Besides, the progress of the monsoon, the movement of the rupee against the dollar and crude oil prices, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will also be watched.
IIP data and inflation
On the macro front, the Industrial Production and Manufacturing Production data for July will be released on 10 September 2021. Capital Market conducted a poll amongst economists across leading banks, rating agencies, financial advisories and brokerages for July 2021 IIP growth projections. The results of the poll as indicated by the median of IIP growth forecasts from economists shows that industrial production growth would remain into double digits at 13.5% in July 2021. The Wholesale price index (WPI) inflation for August 2021 is due on September 14.
Covid updates and vaccination drive 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, there is a trend of rising Covid cases on account of the delta variant, especially in UK and Asia.
Global cues Overseas, China’s industrial production data for August will be announced on September 15. The US will announce the inflation rate for August on September 14. US Retail Sales for August will be announced on September 16. Euro Area’s industrial production data for July will be announced on 15 September 2021.
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