Week ahead: GDP data, rupee movement to weigh on Sensex, Nifty

The movement on the bourses will be dictated by global stock market trends, the rupee’s movement against the dollar, and crude oil prices in the shortened trading week ahead. The stock market will be closed on Wednesday, August 31, 2022, in observance of Ganesh Chaturthi. 

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Foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) would be monitored in their investments. FIIs continued to be net purchasers to the tune of Rs 450 crore in the previous week, bringing total monthly inflows to over Rs 18,000 crore in August, compared to profit booking by DIIs, who offloaded more than Rs 6,500 crore worth of shares in the present month.

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On the macroeconomic front, the second quarter’s Gross Domestic Product (GDP) for India will be released on August 31, 2022.

The July infrastructure output figures for India will be released on August 31, 2022. The August S&P Global Manufacturing PMI will be released on September 1, 2022.

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The monthly auto sales figures will be the centre of attention at the start of September. As a result, auto stocks such as Tata Motors, Maruti Suzuki, Bajaj Auto, Mahindra & Mahindra, Eicher Motors, TVS Motor, Ashok Leyland, and Hero MotoCorp would be monitored in the next week.

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The government intends to lift all upper and lower caps on domestic airfares placed during the coronavirus pandemic on Wednesday. The amount charged to passengers will now be up to the airlines.

Overseas, China will release the August NBS Manufacturing PMI on August 31, 2022. On September 1, 2022, China will release the Caixin Manufacturing PMI for August. 

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The August Non-Farm Payrolls statistics for the United States will be released on September 2, 2022.