The stock market may see a rise next week. The market will keep an eye on FOMC minutes, auto sales, domestic economic data, global economic data, FII-DII flow and upcoming IPO. Here we are telling about such factors, which will decide the market movement this week… Auto Sales The market will keep an eye on the automobile sales data for the month of June, which will come out on July 1. Growth is expected in the sales of two-wheelers and passenger vehicles. Sales in the commercial vehicles segment are expected to remain flat. Domestic Economic Data The final figures of HSBC Manufacturing PMI for June will be released on July 1. At the same time, the final figures of HSBC Services and Composite PMI for June will come out on July 3. Foreign exchange figures for the week ending June 28 will be released on July 5. FOMC Minutes The speech of Jerome Powell, Chairman of the Central Bank of America, Federal Reserve, is scheduled to be held on July 2. It is likely to impact the markets. Global Economic Data Market participants will focus on FOMC minutes and Powell’s speech as well as unemployment rate in the US, non-farm payrolls, SP Global Manufacturing and Services PMI, JOLTs Job Openings and Exits data and Monthly Factory Orders data. Apart from this, the market will also keep an eye on manufacturing PMI data of other developed and developing countries, ECB non-monetary policy meetings, Euro inflation flash and unemployment rate, Japan’s Jibun Bank manufacturing PMI data and consumer confidence. FII Flow The market will also keep an eye on the activities of Foreign Institutional Investors (FIIs) next week. However, the withdrawal of FIIs has been compensated by continued strong buying by Domestic Institutional Investors (DIIs) in the equity markets last week. According to provisional data, FIIs sold shares worth Rs 14,704 crore in the cash segment. While, DIIs bought shares worth Rs 20,796 crore. Ahead of the Union Budget and India’s inclusion in JP Morgan’s bond index, FIIs bought Indian shares worth about Rs 26,565 crore in June, driven by expectations of continued reforms after the elections. Analysts said this renewed interest is due to better GDP growth forecasts and strong earnings from Indian companies. So far this year, FIIs have bought shares worth Rs 129,046 crore, while DIIs have bought shares worth Rs 236,325 crore during the same period. Initial Public Offerings (IPOs) Two new Initial Public Offerings (IPOs) are going to open in the trading week starting July 1. In the mainboard segment, the IPOs of Emcure Pharmaceuticals and Bansal Wire Industries will open on July 3 and close on July 5. Sensex gained 2.66% in the last week Sensex gained 2.66% in the last trading week. Nifty also rose by 2.57%. On the last trading day of the week, Friday, June 28, the stock market made an all-time high for the fourth consecutive day. During the initial trading, the Sensex made a high of 79,671 and the Nifty made a high of 24,174. However, later the market saw a decline. After trading throughout the day, the Sensex closed at 79,032 with a decline of 210 points. At the same time, Nifty also fell by 33 points, it closed at 24,010. Out of 30 Sensex stocks, 19 fell and 11 rose.
