Macro-economic data to drive Indian equities markets in the coming weeks
Mumbai: Acceleration in the reforms process, coupled with upcoming macro economic numbers and cues on the winter session of parliament, will set the tone for the Indian equities markets during the upcoming weekly trade.
Hopes of the goods and services tax (GST) bill getting passed during the winter session beginning Nov 26 is expected to support the key bellwether indices.
Attractive valuation on account of three consecutive weeks of slide too will count as a major trigger for the bellwether indices. Value buying opportunity is expected to lure back the evasive foreign investors.
Foreign investors went in for a selling frenzy during the last week. According to the National Securities Depository Limited (NSDL) the FPIs bought Rs.1,536.8 crore or $ 233.23 million in equity and debt markets during November 9-13.
The data with stock exchanges showed that the FPIs sold stocks worth Rs.2,281.64 crore in the period under review.
On the other hand, the domestic institutional investors (DIIs) bought stocks worth Rs.1,360.92 crore during the last trading week.
The flight of foreign capital from Indian exchanges impacted the rupee value. On a week-on-week basis, the rupee weakened by 34 paise to 66.10 to a US dollar (November 13) from its previous close of 65.76 to a greenback (November 6).
Besides, Bihar poll rout for the central government, domestic macro numbers such as wholesale price index (WPI), balance of trade (BoP) and reserve banks’ take on the lackluster industrial output and marginal uptick in inflation will dictate the trajectory of Indian stocks.
In addition to the domestic macro number, the heightened chances of US rate hike and further cues towards it will keep the Indian market on tenterhooks.
Furthermore, signs on the upcoming winter session of parliament in the aftermath of the Bihar poll and ongoing debate over tolerance in the society will be another key trigger to watch out for.
Recently, the central government had hiked FDI limits in at least 15 sectors. Further, it had empowered the executive to clear greater sums of foreign investments.
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Source:zeenews
