new Delhi. The domestic stock market remained strong during the last two weeks, but the market move in the coming business week will be decided by the key economic data. The market will get directions from other key economic data, including the GDP data for the first quarter of the current fiscal year, especially in the beginning of the week. Due to the monsoon grace, the country has sown a record of kharif crops, which is expected to yield bumper. Experts say that this is a positive sign for the market because the bumper yields will strengthen the rural economy, so investors will be excited by it. From September 1, the auto companies will release their sales figures for the last month of August during the next business week, which will be looked at by investors.
Economic data will be released
Earlier on Monday, the National Statistics Office (NSO) can release the gross domestic product (GDP) estimates for the first quarter of the current financial year. Apart from this, the data for July output of the country’s infrastructure sector is also going to be released on the same day. The next day will be released on Tuesday in the month of market manufacturing, while in August the market services PMI data will be released on Thursday. These figures will determine the trend of the domestic stock market.
Unlock 4 will see the effect
The crisis of the corona epidemic in the country is continuously deepening, but in the meantime, the unlocking of some more sectors of the economy by the Central Government in Unlock-Four is expected to accelerate economic activity. Delhi Metro, which is considered as the lifeline of Delhi, the capital of the country, has also been allowed to start operations.
An eye will be on the movement of the rupee
In the domestic stock market this week, investors will also keep an eye on the movement of the domestic currency rupee against the dollar and fluctuations in the price of crude oil in the international market. Apart from this, the trend towards investment of foreign portfolio investors and domestic institutional investors will provide direction to the market.
There will be controversy between the US Shino on the stock market
Talking about the global front, the dispute between the US and China will remain on the stock market. At the same time, the market will also be watching the major economic data released in China, Japan, America and Europe. The figures for the August NBS Manufactured Ring and NBS Non-Manufactured Ring PMI for the month of August will be released in China on Monday at the beginning of the week. Also in China, data for the July Caixin Manufactured Ring PMI will be released on Tuesday.
Statistics of Japan will be released
Earlier on Monday, the industrial production data for July will be released in Japan. The figures for the August month of the Euro Area Market Manufacturing PMI are scheduled to come on Tuesday, while the non-farm sector employment data will be released during the month of August in the US on Friday at the end of the trading week. These figures will determine the movement of the global stock market, which will also have an impact on the Indian stock market.
Markets will remain closed for the past week
The domestic stock market witnessed a sharp trend during the last two weeks. The 30-share benchmark Sensex, based on the 30 stocks of the Bombay Stock Exchange, closed with a weekly gain of 1,032.59 points, or 2.69 per cent, at 39,467.31 on Friday. The Nifty, a major sensitive index based on 50 stocks of the National Stock Exchange, also closed at 11,647.60 with a weekly gain of 276 points, or 2.42 per cent.