Market Outlook: 5 Factors To Drive The Markets Next Week

The benchmark Nifty reached a lifetime high of 15,915 during a turbulent week, but lost ground and finished below 15800 levels. As companies published June sales data, IT oves. This week, investors will be looking for direction in macroeconomic data, the forthcoming first-quarter earnings season, and global trends.

1) IPOs listing

The first public offerings (IPO) of Clean Science and Technology and GR Infraprojects will take place on July 7. India Pesticides' recently completed initial public offering (IPO) will begin trading on platforms on July 5.

2) Quarter Earnings

The results of Tata Consultancy Services, Avenue Supermarts, Delta Corp, Alliance Integrated Metaliks, Asian Hotels (North), Simplex Projects, Kwality, Shyam Metalics and Energy, Integrated Capital Services, Madhucon Projects, and PTC Industries will be announced.

3) Services PMI

On July 5, the Markit Composite PMI and Markit Services PMI (June) will be released.

The IHS Markit India Services Purchasing Managers' Index (PMI) fell to 46.4 in May from 54 in April, according to the monthly IHS Markit India Services Purchasing Managers' Index (PMI). A number above 50 indicates expansion, whereas a score below 50 indicates contraction.

4) Global Cues

The financial markets in the United States will be closed on Monday asIndependence Day occurs on a weekend this year, On Monday, July 5, foreign financial markets will be open. Trading in the currency markets is expected to continue. Last week, Stocks rose on concern that the economy is rebounding at a pace that will prevent the Federal Reserve from removing the liquidity punch bowl that has propelled the market to new highs.

5) Crude Oil

Crude oil prices will stay in the spotlight as OPEC+ meets again on Monday after failing to achieve an agreement on oil output strategy for the second day in a row on Friday due to the United Arab Emirates' blocking of some sections of the arrangement.

Covid 19 Delta Variant

The second wave of the COVID-19 pandemic in India is subsiding, but incidences of the Delta plus variation, which is classed as a variant of concern (VOC), are on the rise in the country. Over 3.05 million confirmed COVID-19 cases have been reported in India so far, with 4,01,050 deaths. COVID-19 has recovered a total of 2,96,05,779 persons thus far. COVID-19 has 4,95,533 active users.