‘Macro data & US tariff related news to drive stock markets this week’

New Delhi: Stock market investors would track macroeconomic data announcements such as industrial production, US tariff related developments and other global trends this week, which may influence sentiment, analysts said. Trading activity of foreign investors and crude oil prices would also remain in the limelight during the week, experts noted.

“On July 1, attention will turn to the manufacturing PMI for June, which reflects the health of India’s industrial sector and order inflows. This will be followed by the services PMI on July 3,” according to Bajaj Broking Research.

In the past four trading days, the BSE benchmark Sensex jumped 2,162.11 points or 2.64 per cent and the NSE Nifty climbed 665.9 points or 2.66 per cent.

Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, said, “We expect the market to witness a steady uptrend, supported by improving institutional inflows, prospects of a US-India trade deal...”

“Domestically, high-frequency data such as IIP and PMI figures will be in focus, along with monsoon progress and FII activity, to gauge short-term market trends,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.