‘Macroeconomic data, F&O expiry & global cues to drive markets this week’

New Delhi: Release of key macroeconomic numbers, monthly derivatives expiry, and global cues are likely to drive stock market movement this week, according to

analysts.

“This week, we expect the market to witness a gradual up-move with stock-specific action. The focus will shift to monthly F&O expiry as well as global cues. Markets on Monday would react to commentaries of the US Fed Chair at the Jackson Hole Symposium,” Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd, said.

US Fed Chair Jerome Powell on Friday signalled that the central bank would cut its interest rate in the September meeting.

Powell made a crucial speech that laid the groundwork for future interest rate reductions.

Powell said, “The time has come for policy to adjust”.

Traders are anticipating some volatility in the subsequent sessions due to the monthly F&O expiry scheduled this week, experts said.

“The Indian market continued its recovery rally this week, buoyed by positive US economic data, which diminished the likelihood of a US recession. Moreover, positive global sentiment from ceasefire talks between Israel and Hamas, along with a decline in crude prices, contributed to the rally,” Vinod Nair, Head of Research at Geojit Financial Services, said.