Macroeconomic data announcements, global trends, and foreign investor trading activity will be key drivers for equity markets this week, according to analysts.
"Crude oil prices have seen a significant correction in recent days, with Brent crude now hovering near $73 per barrel. In India, investors will closely watch the release of macroeconomic data this week, including CPI inflation. Globally, optimism persists about a potential rate cut by the US Federal Reserve, with the upcoming Fed meeting later this month being a key focus," said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
India's industrial production data for July and inflation figures for August are set to be released on Thursday.
Last week, the BSE benchmark index fell by 1,181.84 points, or 1.43%, while the Nifty dropped by 383.75 points, or 1.52%.
On Friday, the 30-share BSE Sensex declined for the third consecutive day, plunging 1,017.23 points, or 1.24%, to close at 81,183.93. The NSE Nifty also fell for the third day, losing 292.95 points, or 1.17%, to settle at 24,852.15.
"We expect the market to remain in a consolidation phase in the near term," said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services.
Investors will also monitor global oil prices and the rupee-dollar exchange rate. US inflation data will be another critical point of interest this week, according to Vinod Nair, Head of Research at Geojit Financial Services.
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