Macro data, earnings to set market tone this week, say Experts

Release of macroeconomic data and quarterly earnings from bluechips like Tata Power and Oil India would set the trend in the stock market this week, say experts.

"GDP data and other key economic data release along with global markets trends will dictate market sentiments in the near term," said Vijay Singhania, founder-director, Trade Smart Online.

"This week, key macroeconomic data will guide the market sentiments. Globally too, we have key economic data release," said Singhania.

Besides, auto companies will be in focus as they will start unveiling monthly sales data for November from Thursday.

"On the macro front, developments in the on-going Winter session of Parliament will be watched," he noted.

Among major earnings this week are from Tata Power and Oil India.

On the macro front, PMI data on manufacturing sector will also influence trading behaviour.

"This week is having economic data like GDP for the third quarter along with manufacturing PMI," said Abnish Kumar Sudhanshu, Director & Research Head, Amrapali Aadya Trading & Investments.

Markets would also keep a close watch on the rupee movement.

"If no further news related to the demonetisation comes, then we foresee market to remain traded with positive bias," he added.

"Markets will try to gauge the medium-term impact of the demonetisation scheme of the Government," said Dipen Shah, Senior Vice-President & Head PCG Research, Kotak Securities.

On the global front, the crucial US non-farm payrolls report for November 2016 is slated to release on Friday, Singhania said.

Both Sensex and Nifty ended last week higher by 166.10 points (0.63%) and 40.20 points (0.49%), respectively.