Earnings, macro data, global trends to dictate markets this week: Analysts

Markets this week would be guided by the ongoing quarterly earnings, macroeconomic data announcements and global trends, analysts said. The government will release industrial production data for June and inflation data for July this week. The RBI has revised its retail inflation forecast to 5.7 per cent, up from the earlier 5.1 per cent due to price pressure on account of supply constraints and high crude oil prices. With the ebbing of the second COVID wave, the RBI has retained its GDP growth forecast for the current fiscal year ending in March 2022 at 9.5 per cent. Nirali Shah, Head of equity research, Samco Securities said, "This week, all eyes will be on key economic data and ongoing results of companies. Although market sentiment is expected to remain buoyant, specifics on important economic indicators ranging from industrial numbers to inflation rate and manufacturing production will keep markets on their feet." MRF, Amtek Auto, Jindal Steel & Power Limited, Lupin, Eicher .

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