New Delhi: The stock market movement would depend upon the upcoming GST Council meeting, macroeconomic data announcements and foreign investors’ trading activity, analysts said. Moreover, the developments related to tariff negotiations between India and the United States, the international market trends and auto sales data would also drive investors’ sentiment.
“Looking ahead, India’s resilience, supported by strong Q1 GDP print driven by government spending and policy measures, may provide a buffer against external headwinds, though fiscal concerns remain. A resolution of tariff disputes could act as a key catalyst for market sentiment,” Vinod Nair, Head of Research, Geojit Investments Ltd, was quoted by PTI as saying.
Importantly, India’s GDP growth rate recorded a stronger-than-expected 7.8 per cent in April-June, its fastest growth rate in five quarters.
The Donald Trump-led US administration levied 50 per cent tariffs that are threatening to hit key exports like textiles.
“This week will be event-heavy, marking the start of a new month with several high-frequency indicators due for release. Investors will closely track auto sales data, along with HSBC manufacturing, services, and composite PMIs.
“Additionally, the GST Council meeting will be a key focus, with expectations building around an accelerated implementation of proposed reforms. These events are likely to set the near-term tone for risk sentiment,” PTI quoted Ajit Mishra — SVP, Research, Religare Broking Ltd.
The experts were also of the view that the stock markets would track the rupee-dollar trend and movement in crude oil prices.
Siddhartha Khemka — Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, mentioned that GST Council meeting and the string India’s GDP data numbers would affect the markets.
Last week, the BSE Sensex plunged 1,497.2 points and the NSE Nifty dropped 443.25 points. The investors’ sentiment were affected by the concerns regarding the US tariffs on Indian exports.
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