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New Delhi: The direction of local stock markets will be determined by industrial production (IIP) such as macroeconomic data, developments to American tariffs and other global trends. Analysts have expressed this opinion. He said that everyone will also keep an eye on business activities and crude oil prices during the week. According to Bajaj Broking Research, several important economic figures will be released from India and the US this week, which will affect the market notion and the position of the central bank.

The week in India will start with industrial production data for May on 30 June. Apart from this, on July 1, manufacturing PMI figures will come, which will provide information about the status of India’s industrial area and order flow. After this, Service PMI data will be released on July 3.

Last week, the stock market bounced

Last week, the local stock market had a sharp rise due to reduced geopolitical tension in West Asia and a steep fall in crude oil prices. Last week, the 30 -share Sensex of BSE climbed 1,650.73 points or two percent. At the same time, the National Stock Exchange’s Nifty was in profit of 525.4 points or two percent.

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Jiojit Investments Ltd. Research head Vinod Nair said that as the session of the first quarter results is approaching, investors are focusing on the performance of companies as early indicators of growth trends. Apart from this, the eagerness has also increased in the coming weeks with the US final looks with major global partners. He said that with this, market partners are closely monitoring the US non-agricultural payroll and unemployment figures as well as India’s industrial production data to assess the improvement in the economy at the domestic and international level. The stock markets rose in the fourth consecutive trading session on Friday. In four trading sessions, the BSE Sensex rose 2,162.11 points or 2.64 percent, while the Nifty was in profit of 665.9 points or 2.66 percent.

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Market hopes for boom

Siddharth Khemka, Research Head (Property Management) of Motilal Oswal Financial Services Limited, said that we hope that the market will see a steady boom. It will be supported by the possibilities of the US-India trade agreement improvement, improvement in institutional flows. Ajit Mishra, Senior Vice President (Research), Railways Broking Limited, said that at the domestic level, the IIP and PMI data will be focused. Also, the progress of monsoon and activities of FII will also play an important role in giving direction to the market.

With agency input-