Key Economic Data to Watch: Manufacturing, Services PMI, and More
The week ahead is set to see a lot of action for financial markets, with a mix of key global economic data. The domestic markets will also have their eyes on key economic data, initial public offering, among other things.
HSBC India Manufacturing and Services PMI: A Key Highlight
The highlight of the week will be HSBC India Manufacturing and Services PMI that will be declared during the week. The markets will also be closely watching other important data from the US including Jobless Claims, and US ISM Manufacturing PMI.
Global Economic Data: A Mixed Bag
On the global front, the week kicks off with the release of the Consumer Price Index in the Euro Area Inflation rate month on month’s flash reading for the month of August, it had previously decreased to 0 percent in July over the previous month.
Other bits of data that the market will be looking out for include August US ISM Manufacturing PMI, which fell to 48 in July from 49 in June, missing expectations for an increase to 49.5.
Domestic Market Updates: IPOs and Economic Data
Back home, the primary market will record a slow week as only one mainboard IPO — Amanta Healthcare — is set to be launched this week.
The benchmark equity indices closed in the red for the third straight session on Friday, dragged down by shares of Reliance Industries Ltd. The NSE Nifty 50 ended 74.05 points or 0.3% lower at 24,426.85 and the BSE Sensex closed 270.92 points or 0.34% down at 79,809.6.
Nifty and Sensex: Weekly Performance
On a weekly basis, the Nifty snapped its two-week winning streak. Mahindra & Mahindra, RIL, and Infosys were among the companies that fell the most on Friday.
Upcoming Events: A Calendar
Here’s a calendar of upcoming events that will impact the markets:
- Monday: HSBC India Manufacturing PMI and Services PMI for August
- Monday: Foreign Exchange Reserves data for the period ending August 22
- Wednesday: Euro Area Services PMI for August
- Thursday: US Initial Jobless Claims for the week ending August 30
Investor Insights: What to Expect
As the markets await key economic data releases, investors should remain cautious and keep a close eye on global developments. The Indian markets are expected to remain volatile, with the Nifty and Sensex likely to be impacted by domestic and global factors.
Investors can consider investing in Indian stocks with a long-term perspective, as the country’s economy is expected to grow in the coming years.
Conclusion
In conclusion, the week ahead promises to be exciting for financial markets, with key global economic data releases and domestic market updates. Investors should remain informed and keep a close eye on developments to make informed investment decisions.