Inflation, IIP data, US Fed decision to guide markets this week: Analysts
Announcement of macroeconmic data such as industrial production and inflation, the US Federal Reserve's interest rate decision along with trends in global equities would dictate movement in the stock market this week, analysts said.
Besides, foreign fund trading activity would also guide the trends in equities.
"All eyes are now on the US Fed policy outcome for cues, which is scheduled on June 14. In the following sessions, the European Central Bank (ECB) and Bank of Japan (BoJ) will also announce their policy decisions.
"On the macroeconomic front, participants will be tracking IIP data, CPI inflation and WPI inflation during the week. Apart from these factors, updates on progress of monsoon will also remain on their radar," said Ajit Mishra, SVP - Technical Research, Religare Broking Ltd.
From the macroeconomic front, industrial production data for April and inflation rate for May would be announced on Monday. WPI (Wholesale Price Index) inflation data for May is scheduled to be