Stock Markets Next Week: Macro Data, Quarterly Numbers and RBI MPC To Influence Markets

Nifty in the last 1-month has seen a sharp rebound with gains to the tune of 8.6%. In fact July month of 2022 is said to reportedly log the highest gains in 23 years. The week closed with gains even as the US Fed increased rates though in line with the anticipation. Furthermore, also the US economy traditional also entered recession owing to two back to back quarters of contraction in GDP.

As per Geojit's head of Research, "The market perceived that aggressive monetary policy will soon come to an end. This added optimism in the domestic market."
Now the coming week shall be critical the key macro data shall be released with the start of the new month. Also, auto companies shall react to the sales data which is released on the first of the month.

Also, there is RBI MPC meet lined up during the week and analyst estimate a rate hike of as much as 35 basis points to counter inflation. 1Bps is one-hundredth of a percentage point.

Besides this the host of quarterly results shall also be watched out for.

As for the likely stock market momentum going ahead, Apurva -head of market perspectives, Samco Securities said, "The short-to-medium-term. The trend is still optimistic, and investors can seek entry points around 16,800 and 16,600 levels."

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