Analysts said global trends, the final batch of Q2 earnings and domestic macroeconomic data will dictate the conditions in the equity market, which had an extended weekend last week.
“The behavior of FIIs along with inflation numbers from US and China will be the key factor for this week. After an extended weekend, Indian markets are likely to start a new week on a positive note on the global background.
“However, there is a risk of selling pressure at higher levels as we are underperforming global counterparts, where the near-term construct is from ‘buy on dip’ to ‘sell on rise’,” said Santosh Meena, Head of Research. has changed in.” Swastik Investmart Limited said.
He said the market would be busy dealing with global macro numbers, with US inflation numbers set to be most important on November 10, while China would also announce its inflation numbers on the same day.
On the domestic front, the IIP data will be released on November 12.
He added that stock-specific movement will be seen as the market moves towards the last batch of Q2 earnings, where Muthoot Finance, Britannia and M&M are in major numbers.
“This week, participants will be looking at the macroeconomic data i.e. IIP and CPI inflation on November 12. Indications are in favor of further consolidation, but the range could be wider this week,” said Ajit Mishra, Vice President (Research), Religare Broking. said.
On the earnings front, some major companies like BHEL, IGL, M&M, ONGC and Tata Steel will announce their results along with many others, Mishra said.
Last week, the BSE benchmark had gained 760.69 points, or 1.28 per cent.
A special Muhurta trading session called ‘Vikram Samvat’ was held on Diwali (November 4) to mark the beginning of the traditional Hindu calendar year.
Markets remained closed on Friday on the occasion of ‘Diwali Balipratipada’.
Yesha Shah, Head, Equity Research, SAMCO Securities, said, “Inflation data from the United States and China will influence global markets. As long as inflation remains a concern, D-Street investors will also look at the domestic inflation rate. Will be monitoring closely.”
Shah said the volatility experienced last week is expected to continue this week as well, in the wake of several important economic data releases and the current earnings season.
This story has been published without modification in text from a wire agency feed. Only the title has been changed.
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