F&O expiry, auto sales among key factors that will guide markets next week
Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for September starting from 1 October 2021.
Bulls completely outclassed bears on Dalal Street during the passing week with frontline gauges settling above 60,000 (Sensex) and 17,850 (Nifty) for the first time ever. The BSE Sensex surged 1,032.58 points or 1.75% to 60,048.47 for the week ended September 24. The BSE Midcap gained 148.36 points or 0.59% to 25,194.84, while the Smallcap index surged 16.55 points or 0.06% to 28,023.34. Likewise, the 50-share Nifty index added 268.05 points or 1.52% to 17,853.20. Here are key factors that will steer the market next week:
F&O expiry
The coming week is expected to be volatile for local equity markets on account of the F&O expiry, which is scheduled to take place on September 30, 2021. Meanwhile, the trend in investment by foreign institutional investors and the movement of the rupee against the dollar will also be closely watched by the market participants.
Auto sales figures
Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for September starting from 1 October 2021.
Covid updates
On the coronavirus front, investors would continuously watch out government’s course of action along with progress on the vaccination drive. Besides, as new Covid cases have seen a considerable decline, all eyes would be on state governments for further easing of the restrictions. Globally, the trend of rising Covid cases on account of the delta variant, especially in the UK and Asia.
Macroeconomic data
On the macro front, the infrastructure output data for August will be released on 30 September 2021. Markit Manufacturing PMI for September will be declared on 1 October 2021.
Global cues
On the global front, investors will be eyeing macro-economic reports from the world’s largest economy, United States, starting with Dallas Fed Manufacturing Index on September 27 followed by Goods Trade Balance, Redbook on September 28, GDP Price Index, Initial Jobless Claims, Chicago PMI on September 29 and finally Core PCE Price Index, Baker Hughes Oil Rig Count on October 01. China will also announce the NBS Manufacturing PMI for September on 30 September 2021.