With quarterly earnings season almost over, focus of the equity markets this week would shift to macroeconomic data announcements, global factors and state polls, say experts.
With quarterly earnings season almost over, focus of the equity markets this week would shift to macroeconomic data announcements, global factors and state polls, say experts.
"In the short-term, we are expecting some relief in the market given a big correction in the last two months and rebound due to technical factors. For the week ahead, CPI inflation, WPI and IIP are key events," said Vinod Nair, Head of Research, Geojit Financial Services.
Industrial production and retail inflation figures will be announced Monday, while WPI inflation data is scheduled for Wednesday.
"The result season has almost come to an end which brought some cheers to the market, but the short-lived euphoria seems to be over as now the domestic issues of state elections will shift the focus back to Indian politics," said Jimeet Modi, Founder and CEO, Samco Securities and StockNote.
Chhattisgarh will be the first to go to polls in multi-phased voting, beginning November 12.
Polling for all five states, including Madhya Pradesh, Mizoram, Rajasthan and Telangana, will conclude by December 7. Results will be announced on December 11.
Trend in crude oil prices and movement of rupee would also be tracked by market participants.
Over the last week, the BSE Sensex gained 146.9 points to end at 35,158.55.
Meanwhile, with about USD 11 billion foreign portfolio investments outflow this year, the government is trying to find ways to ensure stability of FPI fund flows into the financial markets, Economic Affairs Secretary Subhash Chandra Garg said Tuesday.
He said developments like bond yield cycle, taxation reforms, in the US have not hurt Foreign Direct Investment (FDI) flow into the country.
"What has been affected is financial sector investment. We have seen some withdrawal specially in the debt market. This year we have seen close to about USD 10-11 billion of outflows. This volatility is what concerns us, Garg said.
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 "Macro data, global factors, state polls to hog limelight in equity markets this week: Experts")
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