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Macro data to drive stock market this week; auto stocks to remain in focus

The government's move to infuse Rs 48,239 crore in 12 PSU banks will keep the banking sector afloat

Press Trust of India  |  New Delhi 

Marco data to drive stock market this week; auto stocks to remain in focus

Amid ahead of February derivatives expiry, release of key monthly macroeconomic numbers is likely to drive movement this week, say analysts.

"With the earnings season now over, macros will take charge. Global as well domestic factors have a higher probability of driving the Indian bourses going ahead, but uncertainty will prevail given the political scenario in the country," said Jimeet Modi, Founder & CEO, & StockNote.

Market participants are eagerly waiting for the announcement of election dates, he said, adding that the government's move to infuse Rs 48,239 crore in 12 PSU banks will keep the sector afloat; but on the whole, the will continue to remain tepid.

(GDP) growth rate for the fourth quarter (Q4) is scheduled to come on Thursday.

Also, announcement of PMI data for the is due for Friday.

"The market will look forward to meet output scheduled on Sunday. GDP numbers, along with fiscal deficit data are due on 28th Feb. Other important data such as infrastructure output and PMI numbers are also scheduled this week," said Mustafa Nadeem, CEO,

We may see a rise in the underlying and must be vigilant to any directional move that can be seen. With that, we also have February futures and options (F&O) expiry on Thursday, said added.

Auto stocks would also remain in focus amid announcement of sales data later in the week.

During the past week, Sensex rose 62.53 points or 0.17 per cent to close at 35,871.48 on Friday.

First Published: Sun, February 24 2019. 10:15 IST
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