Markets to track FII trading, macroeco data, global trends this week: Analysts – Newz9

NEW DELHI: Macroeconomic knowledge bulletins, buying and selling exercise of overseas traders and global trends will information fairness market motion this week, which might additionally mark the start of the brand new calendar 12 months and month, analysts mentioned. Movement of rupee, which registered the steepest fall in virtually two years to hit its lifetime intra-day low on Friday, can even be tracked by traders.
“Persistent FIIs (Foreign Institutional Investors) selling has been a source of pressure on Indian markets, and their stance in the new year could shape near-term trends. Meanwhile, monthly auto sales data will also be closely watched. As the Q3 earnings season approaches, corporate quarterly updates will begin trickling in, setting the stage for market expectations,” Santosh Meena, Head of Research, Swastika Investmart Ltd, mentioned.
On the worldwide entrance, key financial indicators like manufacturing PMI knowledge from China and the US, together with US jobless claims, will play a vital function, Meena mentioned.
However, the greenback index and US bond yields stay essentially the most vital elements influencing the path of global markets, he added.
Auto shares can even stay within the limelight this week amid month-to-month gross sales knowledge announcement.
“As we step into the new calendar year and month, auto sales data will be closely monitored for initial market cues. In the absence of any significant events, attention is likely to shift toward FII flows and currency movement, especially as the rupee continues to weaken against the US dollar. These factors could play a crucial role in shaping market direction in the near term,” Ajit Mishra — SVP, Religare Broking Ltd, mentioned.
Last week, the BSE benchmark climbed 657.48 factors, or 0.84 per cent, and the Nifty went up 225.9 factors, or 0.95 per cent.
Vinod Nair, Head of Research, Geojit Financial Services, mentioned, “Looking ahead, significant market attention is expected for the upcoming Q3 results, which will play a crucial role in shaping market trajectory. Investors are likely to align their portfolios based on pre- Budget expectations.
“Additionally, key knowledge factors such because the PMI knowledge for India, the US, and China, in addition to US jobless claims, will affect investor sentiment.”
The past week was marked by consolidation with bouts of intra-day volatility, an analyst said, adding that FIIs exhibited thin volumes due to the Christmas and New Year holidays, continuing as net sellers.
“The outlook for the market can be guided by main home and global financial knowledge akin to India’s infrastructure output, manufacturing PMI of India, UK S&P global manufacturing PMI, US preliminary jobless claims,” ​​Puneet Singhania, Director at Master Trust Group, said.
“With no important triggers within the close to time period, markets are seemingly to stay vary-certain,” Siddhartha Khemka, Head — Research, Wealth Management, Motilal Oswal Financial Services Ltd — mentioned.