Auto sales data, PMI prints, global cues will guide domestic markets next week
Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for February starting from 1 March 2021.
Trend in global stock markets, the movement of rupee against the dollar and crude oil prices will dictate trend on the bourses in the near term. Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will be monitored.
Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for February starting from 1 March 2021.
In economic data, Markit Manufacturing PMI for February will be declared on 1 March 2021. Markit Services PMI for February will be declared on 3 March 2021.
Global cues will continue to be in focus. Updates related to COVID-19 will be closely watched. Also on the radar will be news on Covid vaccine development. From here on the pace of the improvement of economic indicators along with outcomes of a possible vaccine or cure for COVID-19 would determine the movement of the market.
Total COVID-19 confirmed cases worldwide stood at 11,30,02,186 with 25,07,624 deaths. India reported 1,55,986 active cases of COVID-19 infection and 1,56,825 deaths while 1,07,50,680 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Overseas, China will announce the Caixin Manufacturing PMI for February on 1 March 2021.
The US Markit Manufacturing PMI for February will be declared on 1 March 2021.
The US Non Farm Payrolls data for February will be announced on 5 March 2021.
The Euro Area Markit Manufacturing PMI for February will be declared on 1 March 2021.
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