01 Aug , 2021 By : Kanchan Joshi
The domestic markets ended last week with moderate losses. The Indian indices closed over 0.13% lower on Friday. Sensex closed at 52,586.84, down 66.23 points or 0.13%, while Nifty was at 15,763.05, down 15.40 points or 0.10%.
This week domestic equity markets would be driven by macroeconomic data, quarterly earnings, and RBI interest rate decisions. Besides, global trends and the pace of vaccination would also guide the local equities.
Vinod Nair, Head of Research at Geojit Financial Services said, "In the week ahead, the key event in the domestic market will be the announcement of RBI's monetary policy decision. To give a view on economic recovery, the market awaits the release of manufacturing and service PMI data".
Binod Modi, Head Strategy at Reliance Securities said corporate earnings and Covid-19 trends will remain in focus in the near term.
Among major earnings announcements, HDFC, PNB, Adani Ports and Special Economic Zone, Bank Of India, Bharti Airtel, State Bank Of India, and M&M would release their financial results.
The RBI's MPC meeting is scheduled for the coming week. Auto sales numbers, PMI figures along the result season will continue to drive stock-specific movements on D-Street, Nirali Shah, Head of equity research, Samco Securities, said.
"Macroeconomic data, the pace of vaccination, and global trends would be a major driver for markets. Auto companies are going to remain in focus as they are going to declare their monthly sales number," Rahul Sharma, Co- Founder, Equity99, said.
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