BackMarkets to eye IIP, inflation data in holiday-truncated week: Analysts
Auto stocks may continue to remain in the limelightDuring the last week, the Sensex lost 351.02 points or 0.94%
PremiumNew Delhi: Equity markets would track announcement of some key macroeconomic data points in this holiday-shortened week for further cues, while expectations of more stimulus measures from the government may keep sentiment upbeat, analysts said.
Bourses will be closed on Tuesday for 'Muharram'.
"Markets will be looking at industrial production data and manufacturing production number. These two numbers followed by inflation would set some tone and any number above expectation should be good for investors," said Mustafa Nadeem, CEO, Epic Research.
According to Vinod Nair, Head of Research, Geojit Financial Services Ltd, continuous selling by FIIs remains a concern, but markets may trade positively in the short-term in anticipation of policy actions.
Investors would watch out for industrial production, inflation number and manufacturing production data scheduled to come on Thursday for further cues, he added.
"Market is likely to cheer the truce on the trade war front and an improved geo-political situation," said Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote.
Auto stocks may continue to remain in the limelight on expectations of more measures from the government for the struggling industry.
Amid a clamour from the auto industry for a GST rate cut, Minister of State for Finance Anurag Thakur on Friday asked players to also take up the matter with state finance ministers who are part of the GST Council, and assured all support from the Centre.
Besides, factors such as movement of rupee, oil prices and investment trend by foreign investors would also drive sentiment, analysts added.
During the last week, the Sensex lost 351.02 points or 0.94%.
Benchmark indices had closed sharply higher on Friday on expectations of more measures from the government to prop up growth, while hopes of a trade truce between the US and China buoyed global markets.
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This story has been published from a wire agency feed without modifications to the text.
