Macro data and global trends to dictate markets this Week, say analysts

New Delhi: Macroeconomic data announcements, global trends and trading activity of foreign investors would be the major driving factors for the equity markets this week, according to analysts.

“Crude oil prices has seen a meaningful correction over the few days with Brent crude now close to $73 per barrel. In India, investors will look forward to release of macro data this week, including CPI inflation. Globally, investors remain optimistic about the possibility of a rate cut by the US Fed and would keenly look forward to the US Fed meet scheduled later this month,” Shrikant Chouhan, Head of Equity Research, Kotak Securities, said.

Among macroeconomic data announcements, industrial production for July and inflation data for August will be announced on Thursday.

Falling for the third day running on Friday, the 30-share BSE Sensex tumbled 1,017.23 points, or 1.24 per cent, to settle at 81,183.93.

The NSE Nifty dropped 292.95 points, or 1.17 per cent, to 24,852.15, its third day of decline.