Monsoon, macroeconomic data, Q4 results to steer D-Street next week
The key thing to watch out for in the near future would be the US bond yields because any rise in yields can take out FII money from developing countries like India
Local as well as global macroeconomic data, quarterly results, progress of monsoon, Covid-19 updates and global cues are among some of the key factors that will guide the domestic equity market in the coming week.
Besides, the movement of the rupee against the dollar and crude oil prices, the trend in global stock markets will dictate the trend on the bourses in the near term. Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will also be monitored.
The key thing to watch out for in the near future would be the US bond yields because any rise in yields can take out FII money from developing countries like India
The Dollar Index, which measures the US currency against a basket of six peers, will also be closely watched. India Inc will continue to report its March quarter earnings. GAIL (India) will declare its Q4 result on 9 June 2021. Interglobe Aviation will announce its Q4 result on 5 June 2021.
Covid-19 scenario
Investors will also be keenly looking at 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.
On the macro front, the Industrial Production and Manufacturing Production data for April will be released on 11 June 2021.
Progress of monsoon will be closely watched. The Indian Meteorological Department has predicted a normal monsoon in most parts of the country in June. As per the weather department, the country is likely to experience 101% rainfall during the monsoon season. The IMD will issue the forecast for the July rainfall in the last week of June 2021.
Global factors
Overseas, investors are awaiting US jobs data for May for clues to the Fed’s plans for policy in the coming weeks and months.
China will announce the inflation rate for May on 9 June 2021, while the US will announce the figure for May on 10 June 2021.
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