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The stock market had a volatile week which ultimately ended in the green. Major stock benchmarks hit new highs during Saturday’s special trading session. This growth was driven by the strong GDP growth of 8.4 per cent recorded by India in the third quarter of the current financial year 2023-24. This GDP figure exceeds market expectations of 6.7 percent growth.
Investors will be paying close attention to macroeconomic data at the national level this week. India is expected to reveal statistics such as trade balance, S&P Global Services PMI and foreign exchange reserves within the week. Furthermore, market experts will also observe the political developments in the country in the run-up to the general elections.
Among the IPOs, RK Swamy, JG Chemicals and Gopal Namkeen are among the expected issues this week. The Mukka Proteins IPO will close on Monday. Among the listing debuts, Platinum Industries is expected to list on the stock exchange on Tuesday. Another expected debut this week is Mukka Proteins, which is expected to list on March 7. Owais Metal and Mineral Processing would also list on Monday, followed by Purv Flexipack which would make its market debut on Tuesday.
Globally, investors would closely watch the testimony of US Federal Reserve Chairman Jerome Powell, expected on March 6-7. Powell is expected to present the country’s semiannual monetary policy report to the Senate committee on issues including banking, housing and urban affairs.
Services PMI figures for the Eurozone, China and the US are also expected in the first half of the week. China will also release its inflation and PPI figures towards the end of the week.
