Saturday, 23 February 2019

Macro data to drive stock market this week; auto stocks to remain in focus

Amid volatility ahead of February derivatives expiry, release of key monthly macroeconomic numbers is likely to drive stock market movement this week, say analysts. "With the earnings season now over, macros will take charge. Global as well domestic factors have a higher probability of driving the Indian bourses going ahead, but uncertainty will prevail given the political scenario in the country," said Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote. Market participants are eagerly waiting for the announcement of election dates, he said, adding that the government's move to infuse Rs 48,239 crore in 12 PSU banks will keep the banking sector afloat; but on the whole, the markets will continue to remain tepid. Gross domestic product (GDP) growth rate for the fourth quarter (Q4) is scheduled to come on Thursday. Also, announcement of PMI data for the manufacturing sector is due for Friday. "The market will look forward to GST Council meet output scheduled on Sunday. GDP

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Goldprice dips Rs 10 to Rs 62,720, silver falls Rs 100 to Rs 74,900

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