Investors can expect next week to focus on factory and services activity, as well as GDP data released throughout the week. Experts from Motilal Oswal Financial Services and Religare Broking forecast that the Nifty Index is nearing its previous lifetime high in the coming weeks. In the past two weeks, the markets have seen a period of consolidation and this momentum is projected to continue.
Ajit Mishra, Vice President of Research for Religare Broking, indicated that as a new month begins, high frequency data will be closely monitored including auto sales, manufacturing PMI, and services PMI data. According to Mishra, data of this kind will be the focus for investors this upcoming week, as will the GDP data set to be released on May 31st.
Santosh Meena, Head of Research at Swastika Investmart, noted that export-oriented sectors including IT, Pharma, and Metal had the best performance increasing by 4-6%. Vinod Nair, Head of Research at Geojit Financial Services, pointed out the role of US Federal Open Market Committee as the committee’s minutes revealed disagreements among officials over future policy measures.
The company mentioned in this article is Motilal Oswal Financial Services, It is one of India’s premier financial services organizations, offering a range of financial services that include equity and commodity broking, mutual funds, life insurance, portfolio management services and investment banking.
The person mentioned in the article is Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services. Siddhartha has seamlessly blended the task of heading the equity third-party distribution business and retail research. He is a Certified Financial Planner and has consistently delivered market commentary on various business channels. He is the co-author of the book, Profitable Investing In India, and is passionate about market analysis and advice.
