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Macroeconomic data, global trends, earnings to guide mkt trends: Analysts
Domestic macroeconomic data announcements, global trends, quarterly earnings and foreign fund trading activity would dictate terms in the equity markets this week, analysts said.
Besides, movement of rupee against the US dollar and global oil benchmark Brent crude price would also guide the trading pattern in the equity markets.
"From a macroeconomic perspective, market participants will be closely observing key events like the upcoming release of the US manufacturing PMI data, US services PMI data and US non-farm payrolls scheduled between August 1 and August 4.
"These indicators can provide valuable insights into the state of the global economy and may impact market sentiment. Additionally, institutional activity will also have a significant impact on market trends," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Among domestic macroeconomic numbers, PMI data for manufacturing and services sectors will be announced on Tuesday and Thursday, respectively.
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