You are here: Home » Markets » News
Business Standard

Domestic market to hinge on macro data, oil, currency this week: Analysts

Data for the services sector is due on Tuesday which would also influence trading sentiment this week

Press Trust of India  |  New Delhi 

markets

In the absence of any immediate key triggers, the domestic equity market would be guided by macro-economic data, prices, foreign fund inflows and currency movement in this holiday-shortened week, according to analysts.

The market remained closed on Monday on account of "Maha Shivratri".

Last week, volatility erupted on domestic bourses after the targeted Pakistan-based terror camps, leading to days-long geo-political tensions in the region. But investors now can heave a sigh of relief amid subsiding of skirmishes on the border between the two nations..

"Market is likely to trade with a positive bias on account of ease in border tensions and expectation of the US-trade agreement," said Vinod Nair, head of research,

Also, crude oil, foreign fund inflows and currency movement would be actively tracked by the investors, they added.

Data for the services sector is due on Tuesday which would also influence trading sentiment this week.

"Relative calm has returned to as cross-border tensions have eased and robust trends are coming visible in the data on credit growth, manufacturing activity, new orders and employment. The market will look past the weak GDP print and focus on the high frequency indicators which are suggesting that the Indian is demonstrating signs of a pickup in growth," Sunil Sharma, chief investment officer, said.

Foreign investors, a main of the Indian equity market, poured in close to Rs 17,220 crore on a net basis into Indian equities in February this year, the highest since November 2017.

Meanwhile, over the last week, the BSE Sensex rose 192.33 points, or 0.57 per cent.

First Published: Mon, March 04 2019. 16:00 IST
RECOMMENDED FOR YOU