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Economic Data to Set Trend in Holiday-Shortened Week: Experts

by srijita
April 10, 2016
in Marketing
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Economic Data to Set Trend in Holiday-Shortened Week: Experts

New Delhi: Macroeconomic data will set the trend for the stock market in a holiday-shortened week starting April 11, say experts.

Moreover, investment trend by overseas investors, crude oil price and the rupee would also influence trading.

Market will remain shut on Thursday on account of Baba Saheb Ambedkar Jayanti and on Friday for Ram Navami.

“Macroeconomic data will determine sentiments this week. Trading is expected to be volatile in a truncated session as participation from institutional investors is expected to be limited,” said Vijay Singhania, founder-director of Trade Smart Online.

The next major trigger for the markets will be the fourth quarter earnings, which will start with IT major Infosys announcing its results on Friday.

“We believe the upcoming earning season will provide the needed trigger for directional move to the markets in the coming weeks,” he added.

Among key macroeconomic announcements, industrial production data (based on Index of Industrial Production or IIP) for February will come out on Tuesday as also retail inflation data (based on Consumer Price Index or CPI) for March.

“A short-week and a mid-week holiday will keep positions light. Also, we will start getting cues from the results season,” said Ravi Shenoy, VP-midcap research at Motilal Oswal Securities.

For the week ended April 8, the markets ended in the red as the BSE benchmark Sensex and the NSE Nifty fell by 2 per cent each to three-week lows at 24,673.84 and 7,555.20 respectively.

[“source-ndtv”]
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