Macro numbers including inflation data for May and industrial production data for April will be the key monitorables for investors this week. While the retail inflation and IIP (index of industrial production) numbers will be released on Wednesday, the wholesale inflation print will be released on Friday.
Besides, the liquidity situation in the NBFC sector, progress in monsoon, oil prices, rupee value against the US dollar and global cues will also dominate investor sentiment.
On Friday, the S&P BSE Sensex gained 86 points or 0.22 per cent to close at 39,616, while the Nifty50 rose 27 points or0.23 per cent to end at 11,871. The Sensex and Nifty50, however, lost 0.25 per cent and 0.44 per cent, respectively on a weekly basis.
The rupee on Friday closed 20 paise weaker at 69.47 per one US dollar against Thursday’s close.
Asian shares traded higher on Monday after the US President Donald Trump backed off his plan to impose tariffs on Mexican goods. Japan’s Nikkei was up 218 points, while South Korea’s Kospi added 5 points.
On Wall Street, the Dow Jones added 263 points on Friday to end at 25,984 while the S&P500 closed 30 points higher at 2,873. The Nasdaq gained 126 points to settle at 7,742.
In the commodities market, oil prices rose after expectations firmed up regarding supply cuts by OPEC and Russia. Brent crude futures were at $63.71 at 5:45 am, 0.7 per cent above Friday’s close.