SENSEX NIFTY
Nov 10, 2013, 05.12 PM IST | Source: PTI

Macro data, earnings, FII trend drive stock mkts: Experts

Industrial production data for September would be announced on Tuesday. Besides, the data on inflation based on consumer price index (CPI) for October will be unveiled on Tuesday, while wholesale price index (WPI) numbers will come on Friday.

Macroeconomic data, movement of the rupee against the US dollar, foreign investments trend and earnings from blue-chips such as SBI would drive the stock markets in a holiday-shortened week ahead, experts said.
 
Industrial production data for September would be announced on Tuesday. Besides, the data on inflation based on consumer price index (CPI) for October will be unveiled on Tuesday, while wholesale price index (WPI) numbers will come on Friday.
 
Stock markets would remain closed for Moharram on Thursday.
 
The major earnings announcements this week are - NHPC , Reliance Power , Hindalco Industries , Reliance Communications , Tata Global Beverages, Sun Pharmaceutical Industries , Cipla , Coal India , Mahindra & Mahindra , State Bank of India, Tata Steel , Tata Power and Jaiprakash Associates .
 
"Global cues and economic and political scenarios within the country will impact near-term trend. This week, 6,080 shall be a crucial deciding level for Nifty in near-term, and the index is likely to witness further selling below this level," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Limited.
 
Overseas investors have poured in nearly Rs 3,000 crore in the Indian stock market so far this month.
 
Meanwhile, the US economy saw an addition of 204,000 new jobs in October despite a fortnight long government shutdown, latest government figures had said last week, reflecting an improvement in the condition of the world's largest economy.
 
Over the past week, the S&P BSE benchmark Sensex ended lower by 531 points to 20,666.15 after touching an all-time high of 21,321.53 during the first day of the Samvat year 2070.

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