Macroeconomic data announcements, the Covid situation in China and global market cues would guide Dalal Street in the first week of trading in the New Year, analysts said.
Markets would also keep a track on rupee movement, Brent crude oil prices and foreign fund investment trends.
“As market players attempt to understand the Fed’s stance, Indian markets may respond in lockstep with their international counterparts when the Federal Open Market Committee (FOMC) minutes are made public later this week.
“Back home, the New Year is poised to begin with auto numbers,” said Apurva Sheth, Head of Market Perspectives, Samco Securities.
Purchasing Managers’ Index (PMI) data for the manufacturing sector to be announced on Monday and services sector on Wednesday will also influence trading in the equity market.
“In the near future, the last Budget before the 2024 election, Q4 earnings, and the monthly auto sales number will be the key events that the market will be looking for in January …
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