Global markets, in the week ahead, will keenly look for fresh inflation data and economic reports, S&P stated in its latest week ahead economic preview.
With the much-closely-watched US elections over, the Indian stock market's focus will return to domestic factors next week, such as foreign fund flows and the final phase of the Q2 earnings season.
Indian stock indices closed Wednesday trade in the red, dragged by a broad-based fall virtually in all the sectoral indices, particularly the media, metal, PSU bank, realty, oil and gas. Profit booking at higher levels also dampened investors sentiment, said analysts.
Indian stock indices rose substantially on Monday, defying a sharp downturn in the overnight US markets, possibly due to inherent strength in domestic market fundamentals.
The stock market in the upcoming week will be looking at global happenings such as international market performance, anticipations of recession in the US, and domestic macroeconomic indicators such as IIP, CPI, and WPI inflation data, said market analysts.
From here, the market is likely to see stock-specific moves this week on the back of the ongoing earning season. The market participants also digested the elevated inflation data for June, besides eyeing the much-awaited Budget to be presented on July 23.
After the retail inflation data showed that food inflation in June almost doubled year-on-year to 8.3 percent, economic experts are optimistic that food inflation will decrease in the coming months.
Indian stock indices moved higher as the Friday session progressed and in the process touched a fresh high, triggered by the latest moderation in US inflation, better-than-expected TCS results, and lack of negative market fundamentals.
Indian stock markets surged to record highs on Thursday driven by favorable inflation data. The BSE Sensex and NSE Nifty soared to new peaks, reaching 77,145 and 23,481 respectively. Notably, the Nifty 50 closed 0.33 per cent higher at 23,398.95, while the Sensex ended 0.27 per cent up at 76