global trends, Macroeconomic data and RBI's decision on interest rates will decide the direction of the stock markets this week. Analysts said investors will also keep an eye on monthly auto sales figures this week. “Markets may react to disappointing GDP growth of 5.4 per cent on Monday,” said Santosh Meena, head of research at Swastika Investmart Ltd. The upcoming RBI policy will be important, in which both the interest rate decision and commentary will be watched by investors.
Feedback will be given on GDP growth rate
He further said that on the global front, there remains concern over geopolitical tensions, especially the Russia-Ukraine situation. Meena further said that important macroeconomic data like manufacturing PMIs from India, US and China will also influence the market. India's economic growth rate fell to a two-year low of 5.4 per cent in the July-September quarter of the current financial year due to poor performance by the manufacturing and mining sectors as well as weak consumption. The country however still remains the fastest growing major economy.
These figures will be important
Indian stock markets saw a lot of ups and downs last week, although at the end of the week the markets closed with gains. Palaka Arora Chopra, Director, Master Capital Services Ltd. said, “The market outlook will be based on key data like India Manufacturing PMI, Services PMI, Interest Rate Decisions, US S&P Global Composite PMI, Manufacturing PMI, Services PMI, Non-Agriculture PMI etc. Will be affected by domestic and global economic factors.
how was last week
Last week, BSE's key index Sensex jumped 685.68 points or 0.86 per cent. On the other hand, NSE Nifty rose 223.85 points or 0.93 percent. Analysts said the market will also be affected by crude oil prices and the trend of the US dollar.
Image Credit: India-Tv.