New Delhi: Stock markets will be driven by inflation data, trade-related news, earnings and trading activity of foreign investors in a holiday-shortened week, analysts said on Sunday.
Global market trends will also influence trading sentiment this week, they added. Equity markets would remain closed on Friday for Independence Day.
“This week, attention will turn to domestic CPI and WPI inflation data. Developments in the US–India trade relations will also remain in focus amid ongoing discussions over a trade agreement. The earnings season is nearing its end, with key results due from Ashok Leyland, ONGC, IOC, Hindalco Industries, BPCL and others, which could drive stock-specific action,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
Extending losing streak for the sixth consecutive week, the BSE benchmark dropped 742.12 points or 0.92 per cent, and the Nifty declined 202.05 points or 0.82 per cent. The Q1 earnings season is nearly over, but a few companies are yet to announce results, potentially triggering sector-specific moves, he said.