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Regarding the direction of the stock markets this week, analysts at Swastik Investsmart and Master Capital Services Ltd said that macroeconomic data, global market trends and foreign investor movements will determine the direction of the market. The BSE’s 30-share Sensex lost 62.15 points or 0.09 per cent last week. At the same time, the Nifty of the National Stock Exchange was down 44.35 points or 0.22 percent. He said that apart from this, market traders will also be keeping an eye on Reliance Industries’ Annual General Meeting (AGM).
Swastik Investsmart View
Santosh Meena, head of research at Swastik Investmart said, “The focus this week is on Reliance Industries’ AGM on Monday, August 28. This development is sure to have some impact on the market. Apart from this, the second quarter gross domestic product (GDP) figures are coming on Thursday. This will give a clear picture of the economic performance of the country.
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American unemployment comes out every Friday
Meena said the manufacturing Purchase Managers Index (PMI) data is due on Friday. Apart from this, the US unemployment rate and non-agricultural payroll data are also due on Friday. He said that trends in the Chinese market, movements in the dollar index and bond yields in the US will also be important from the market’s point of view. Auto companies will also release their monthly sales figures on Friday.
Master Capital Services estimates
Master Capital Services Ltd. “Global and domestic macroeconomic data, trends in global markets, crude oil prices, movement of the rupee against the dollar and the attitude of domestic and foreign institutional investors will be key factors for market direction,” said Arvinder Singh Nanda, Senior Vice President. Thursday may see some volatility due to the settlement of monthly derivative contracts.