Omicron updates, macroeconomic data to guide stock markets this week: Analysts
The Sensex nosedived 1,688 points on Friday amid concerns over the new coronavirus variant that also led to rout in global markets.
- Nov 28, 2021,
- Updated Nov 28, 2021 3:10 PM IST
Stock markets in the coming week will be guided mainly by updates pertaining to the new COVID-19 variant that sent equities plummeting globally on Friday, auto sales numbers and macroeconomic data announcements, according to analysts.
A World Health Organization (WHO) committee has named the new strain 'Omicron' and designated it as a highly transmissible variant of concern, the same category that comprises the Delta variant.
Seen as a more contagious strain of coronavirus, Omicron was first reported by the WHO from South Africa on November 24 and has also been detected in Botswana, Hong Kong, Belgium, and Israel. Several countries have announced travel bans and curbs on southern African countries in an effort to stem Omicron's spread.
Also Read: Why Retail Investors Should Exercise Caution in a Bull Market
"New COVID variant, FIIs' behaviour along with macro numbers will be key factors to drive the market this week. COVID related developments will remain key triggers for the market where the market will remain keenly interested to know the efficacy ratios of various vaccines against a new variant of COVID whereas restrictions-related news across the globe will also cause volatility," Santosh Meena, Head of Research, Swastika Investmart Ltd told PTI.
The Sensex nosedived 1,688 points on Friday amid concerns over the new coronavirus variant that also led to a rout in global markets.
Yesha Shah, Head of Equity Research, Samco Securities, said, "Post Q2 result season, Dalal Street will look towards macros for hints to move the needle in broader markets. Inflation being a key factor will be at the centre of all news in the next two weeks since the RBI MPC meet is scheduled in December. November monthly auto sales number can be a trigger to drive some movement this week."
Also Read: Tarsons Products stock makes tepid market debut, lists at 5% premium to IPO price
Among macroeconomic data, PMI numbers for manufacturing and services sectors would also be tracked.
"Equity markets in the near term will closely follow the impact of new COVID variant, inflation data, and Central Bank policies," said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
During the last week, the BSE benchmark plunged 2,528.86 points or 4.24 per cent.
Stock markets in the coming week will be guided mainly by updates pertaining to the new COVID-19 variant that sent equities plummeting globally on Friday, auto sales numbers and macroeconomic data announcements, according to analysts.
A World Health Organization (WHO) committee has named the new strain 'Omicron' and designated it as a highly transmissible variant of concern, the same category that comprises the Delta variant.
Seen as a more contagious strain of coronavirus, Omicron was first reported by the WHO from South Africa on November 24 and has also been detected in Botswana, Hong Kong, Belgium, and Israel. Several countries have announced travel bans and curbs on southern African countries in an effort to stem Omicron's spread.
Also Read: Why Retail Investors Should Exercise Caution in a Bull Market
"New COVID variant, FIIs' behaviour along with macro numbers will be key factors to drive the market this week. COVID related developments will remain key triggers for the market where the market will remain keenly interested to know the efficacy ratios of various vaccines against a new variant of COVID whereas restrictions-related news across the globe will also cause volatility," Santosh Meena, Head of Research, Swastika Investmart Ltd told PTI.
The Sensex nosedived 1,688 points on Friday amid concerns over the new coronavirus variant that also led to a rout in global markets.
Yesha Shah, Head of Equity Research, Samco Securities, said, "Post Q2 result season, Dalal Street will look towards macros for hints to move the needle in broader markets. Inflation being a key factor will be at the centre of all news in the next two weeks since the RBI MPC meet is scheduled in December. November monthly auto sales number can be a trigger to drive some movement this week."
Also Read: Tarsons Products stock makes tepid market debut, lists at 5% premium to IPO price
Among macroeconomic data, PMI numbers for manufacturing and services sectors would also be tracked.
"Equity markets in the near term will closely follow the impact of new COVID variant, inflation data, and Central Bank policies," said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
During the last week, the BSE benchmark plunged 2,528.86 points or 4.24 per cent.