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Investors would keep a close watch on domestic and global macroeconomic data, along with trends in global markets, in truncated trading week ahead. Stock markets will remain closed on Friday, 10 September 2021 on account of Ganesh Chaturthi. Domestic benchmark indices logged strong gains last week, helped by positive global cues. The Sensex and Nifty ended at record high levels on September 3.

Sensex touched a new high to close above 58,000-mark while Nifty sustained above the psychological 17,000 level. In the week ended on Friday, 3 September 2021, the Sensex surged 2,005 points or 3.57% to settle at 58,129. Likewise, The Nifty 50 index soared 618 points or 3.70% to settle at 17,323 making the best weekly gain for Nifty since early February.

Here are key factors that will steer the market next week:

FPI inflows, monsoon and rupee movement

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.

Macroeconomic data

On the macro front, the Industrial Production and Manufacturing Production data for July will be released on 10 September 2021.

Vaccination drive and Covid cases

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.

Global cues

Globally, the trend of rise in Covid cases on account of the delta variant, especially in UK and Asia. Overseas, China will announce the inflation rate for August on 9 September 2021. In Europe, the ECB will announce interest rate decision on 9 September 2021. The ZEW Economic Sentiment Index for September will be declared on 7 September 2021.

(With inputs from Capital Market – Live News)