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Macroeconomic data announcements, trading activity of foreign investors and global trends will guide equity market movement this week, which would also mark the beginning of the new calendar year and month, analysts said. Movement of rupee, which registered the steepest fall in almost two years to hit its lifetime intra-day low on Friday, will also be tracked by investors. "Persistent FIIs (Foreign Institutional Investors) selling has been a source of pressure on Indian markets, and their stance in the new year could shape near-term trends. Meanwhile, monthly auto sales data will also be closely watched. As the Q3 earnings season approaches, corporate quarterly updates will begin trickling in, setting the stage for market expectations," Santosh Meena, Head of Research, Swastika Investmart Ltd, said. On the international front, key economic indicators like manufacturing PMI data from China and the US, along with US jobless claims, will play a crucial role, Meena said. However, the .
The exodus of foreign investments from Indian equity markets continued unabated, with FPIs pulling out nearly Rs 20,000 crore in the last five trading sessions on higher valuations of domestic stocks and shifting their allocation to China. As a result, foreign portfolio investors (FPIs) have turned net sellers in the equity market, with total outflows reaching Rs 13,401 crore for 2024 so far. Going ahead, the FPI selling trend is likely to continue in the near term till data indicate the possibility of a trend reversal. If the Q3 results and leading indicators reflect a recovery in earnings, the scenario can change with FPIs reducing selling and even turning buyers. Investors will have to wait and watch for the data, VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said. With the newly elected US president not assuming office until January 2025, the Indian market's near-term direction will be more influenced by domestic factors like the Maharashtra assembly ..
A host of macroeconomic data announcements, the last batch of September quarter earnings, global trends, and trading activity of foreign investors will be the major driving factors for the equity market this week, according to analysts. Equity markets would remain closed on Friday for Guru Nanak Jayanti. "India is set to release CPI and IIP data on November 12, with WPI data expected on November 14. Globally, the US inflation report on November 13 will be critical, as it may influence the Federal Reserve's upcoming policy stance," Santosh Meena, Head of Research, Swastika Investmart Ltd, said. With major global events and Q2 earnings (of blue-chip companies) behind, the market focus will shift to key macroeconomic data and the last round of results, Meena said. Bank of India, BEML, Hindalco Industries, ONGC, Apollo Tyres, and Brainbees Solutions -- the parent firm of online e-commerce platform FirstCry -- among others will announce their quarterly earnings this week. "The performa