Analysts said macroeconomic data, pace of vaccination and global trends will be the key drivers for the domestic equity markets this week.
Analysts said macroeconomic data, pace of vaccination and global trends will be the key drivers for the domestic equity markets this week. Along with this, the progress of monsoon will also be monitored.
“This week also marks the beginning of a new month, so participants will be eyeing high frequency indicators like auto sales and manufacturing PMI during the week. In addition, the progress of monsoon will also be on their radar.
Ajit Mishra, VP Research, Religare Broking said, “While the pace of the vaccination drive is certainly encouraging as it gives hope of further unlocking by the states, new COVID cases may derail the plans. “
Vinod Nair, Head of Research, Geojit Financial Services, said, “This week, the market is expected to continue its focus on global events as the domestic market lacks key triggers. Manufacturing PMI data is the key domestic economic data to be released this week. awaits.” .
Market participants will also keep a watch on the movement of Brent crude, investment pattern of foreign institutional investors and the rupee.
Nirali Shah, Head of Equity Research, Samco Securities said, “Domestic indices are expected to reflect global equities. The June auto sales numbers will give investors a fair idea about the revival of the grassroots sentiment.”
“Investors will keep an eye on the daily caseload, vaccination ramp-up and progress of the monsoon in the near future,” said Binod Modi, Head Strategy, Reliance Securities. The 30-share BSE benchmark gained 580.59 points or 1.10 per cent during the last week.
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