Manufacturing, Services PMI And Other Key Economic Data — The Week Ahead
The week ahead is set to see a lot of action for financial markets, with a mix of key global economic data. The domestic markets will also have their eyes on key economic data, initial public offering, among other things.
The highlight of the week will be HSBC India Manufacturing and Services PMI that will be declared during the week. The markets will also be closely watching other important data from the US including Jobless Claims, and US ISM Manufacturing PMI
Back home, the primary market will record a slow week as only one mainboard IPO -- Amanta Healthcare -- is set to be launched this week.
Markets On Home Turf
The benchmark equity indices closed in the red for the third straight session on Friday, dragged down by shares of Reliance Industries Ltd.
The NSE Nifty 50 ended 74.05 points or 0.3% lower at 24,426.85 and the BSE Sensex closed 270.92 points or 0.34% down at 79,809.6. The Nifty fell over 0.39% during the day to 24,404.7, while the Sensex slipped 0.42% to 79,741.76.
On a weekly basis, the Nifty snapped its two-week winning streak. Mahindra & Mahindra, RIL and Infosys were among the companies that fell the most on Friday.
Key Global Economic Data
On the global front the week kicks off with the release of the Consumer Price Index in the Euro Area Inflation rate month on month's flash reading for the month of August, it had previously decreased to 0 percent in July over the previous month.
Other bit of data that the market will be looking out for is August US ISM Manufacturing PMI which fell to 48 in July from 49 in June, missing expectations for an increase to 49.5.
Wednesday will see the release of Euro Area Services PMI for August. The HCOB Eurozone Services PMI eased to 50.7 in August from a four-month high of 51 in July.
Finally, on Thursday, US will report its Initial Jobless Claims for week ending August 30.
Domestic Cues To Watch
On the domestic front on Monday, the HSBC India Manufacturing PMI and Services PMI will be released for August.
Further, Foreign Exchange Reserves data for period ending August 22 will be announced. The reserves in India increased to $695.110 billion in August 15 week from $693.620 billion in the previous week.
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