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Market Ahead (3 Aug): Key Factors That Could Guide The Market This Week –
Indian benchmark indices opened lower on Aug 3 amid mixed global cues.
This week June quarter earnings will be on focus for investors as over 275 companies including companies like HPCL, Lupin, Cipla, and Mahindra & Mahindra are scheduled to announce their quarterly numbers. More stock specific action could be seen this week.
India’s overall coronal positive cases tally climbed to over 1,464,991 on Sunday and the death toll from the virus infection rose to 33,111. India has recorded 49,931 coronavirus cases in just 24 hours. Investors will focus on the developments related to the spread of COVID-19 and also updates related to progress in vaccination fronts.
Investors will focus on the Reserve Bank of India (RBI) policy meet (MPC) that is scheduled to begin on August 4 and will announce the decision on August 6.
Along with that, investors will also keep an eye on key macroeconomic data that are scheduled to be released this week. Markit Manufacturing PMI for July is scheduled to be declared later in the day while the Markit Services PMI is expected to be released on 5th of August.
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