RBI policy outcome, auto sales, macro data among key factors that will steer market this week

The RBI’s Monetary Policy Committee (MPC) scheduled for the coming week, auto sales numbers, PMI figures along with the result season will continue to drive stock-specific movements in the markets during the coming week. 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 monitored. Going by the buzz on Dalal Street, here are the top factors that are likely to guide the market going ahead.

MPC outcome

The Reserve Bank of India’s (RBI) monetary policy committee (MPC) will announce its interest rate decision on Friday, 6 August 2021.

Macroeconomic Data

Markit Manufacturing PMI for July will be declared on 2 August 2021. Markit Services PMI for July will be declared on 4 August 2021.

Q4 results

Investors will continue to watch June 2021 quarterly earnings for direction. NTPC will announce its result on 31 July 2021. HDFC will declare its result on 2 August 2021. Bharti Airtel will unveil results on 3 August 2021. HPCL, SBI will announce their results on 4 August 2021. Cipla, GAIL (India) will declare their results on 5 August 2021. M&M will announce its result on 6 August 2021.

Auto sales

Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for July starting from 1 August 2021.

Monsoon

Progress of monsoon and developments in the monsoon session of the Parliament will also be closely watched. 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 UK and Asia.

Global cues

Overseas, China will announce the Caixin Manufacturing PMI for July on 2 August 2021. The US Non-farm Payrolls data for July will be announced on 6 August 2021. The Euro Area Markit Manufacturing PMI for July will be declared on 2 August 2021.

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