Macro data, global trends, trading moves likely to steer markets this week

Macroeconomic data, global market trends and trading activity of foreign investors will be the key drivers for dictating market sentiment this week, analysts said.

"This week, volatility may increase ahead of the November derivatives expiry. Domestically, markets will track several high-impact macro releases, including Q2 GDP data and industrial production.

"Globally, investors will continue to monitor US market performance and key economic releases for direction. These indicators are expected to shape near-term risk sentiment and influence foreign flows," Ajit Mishra- SVP, Research, Religare Broking Ltd, said.

Last week, the BSE benchmark jumped 669.14 points or 0.79 per cent, and the Nifty went up by 158.1 points or 0.61 per cent. On November 20, the BSE benchmark hit its 52-week high of 85,801.70, and the Nifty reached its 52-week peak of 26,246.65.

Vinod Nair, Head of Research, Geojit Investments Limited, said, "The market may witness some profit-booking in the near term if the pressure on the rupee persists. In the week ahead, investors will also have a close vigil on trade developments and economic data like IIP and Q2 FY26 GDP data to get the market direction".

Movement of Brent crude, the global oil benchmark, and the rupee-dollar trend would also be tracked by investors.

"Overall, we expect markets to remain firm this week, supported by buying on dips, improving demand outlook in Q3 and resilient flows. Any progress on the India-US trade talks would be a key short-term catalyst for the markets," Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.

Puneet Singhania, Director at Master Trust Group, said, "Indian markets are likely to trade with a mildly positive bias, supported by resilient domestic macros and markets at near all-time highs".