New Delhi: Markets will closely track datafor India's services sector, IIP number and quarterly earnings from IT major Infosys in a holiday-shortened week ahead, say experts. Stock markets will remain closed on Monday for Bakri Id. Trend in investment by overseas investors and the investors will also closely track the movement of rupee against the dollar.
"Important set of data and events are lined this week. HSBC Services PMI for August is due on Tuesday. Going ahead, the government will unveil industrial production data for August on Friday. And lastly, the earning season will also begin from Friday, with Infosys announcing its Q2 numbers," said Jayant Manglik, President-retail distribution, Religare Securities.
Besides, participants would also keep a track on global market trends, he said. "In coming sessions, global cues and second quarterly results shall be key triggers for market direction," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio. Stock markets will on Tuesday react to the US jobs data as the unemployment rate dropped to 5.9 per cent, the lowest since July 2008, with as many as 248,000 new jobs added last month. Meanwhile, over the past week, the BSE benchmark Sensex fell by 58.33 points to settle at 26,567.99.
