Week Ahead: Macroeconomic data eyed; Automobile stocks in focus

Last Updated: Sat, Nov 26, 2016 16:16 hrs
Share markets

The market is likely to stay volatile in the coming week. Investors will be tracking the proceedings in Parliament where the winter session is currently in progress. Amid ongoing chaos in parliament on the demonetisation issue, the government will be keen to get some key legislations on GST Bill passed in the current session.

The rupee touched a record low of 68.86 against the U.S. dollar last Thursday but managed to regain some ground on Friday. The currency's movements will significantly impact stocks in the coming week as well. The trend in crude oil prices will also be watched.

On the economic front, data on India's GDP for the July - September 2016 quarter will be released on Wednesday (November 30). In the June 2016 quarter, GDP had slowed to 7.1% after a 7.9% expansion in the preceding quarter. On the same day, data on the country's infrastructure output will be out.

On Thursday (December 1), Markit Economic will release a rport on India's manufacturing activity. The Manufacturing Purchasing Managers' Index had climbed to 54.4 in October, a 22-month high, after having risen 52.1 a month earlier.

On the results front, Oil India, Tata Power, Abbott India, Punj Lloyd, IL&FS Transportation Networks and Dredging Corporation are among the companies that are scheduled to announced their quarterly numbers in the coming week.

Automobile and cement stocks will be in focus. Data on November sales and shipments from automobile and cement companies will set the trend for stocks in these sectors. Oil and airlines stocks will be in focus as well with state run oil marketing firms set to decide on fuel prices.

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