Sensex & Nifty would witness uptrend driven by softening of domestic inflation and growth in industrial output. Globally, US consumer inflation slowed more than expected which boosted investor’s sentiment. Market expects the central banks to be less aggressive in near term as inflation starts falling.
In coming week, investor will watch for WPI and balance of trade data.
Equity Market Summary:
· Domestic inflation eased to 6.71% in July from 7.01% in previous month.
· Industrial Production grew by 12.3% in June 22.
· In domestic markets, FIIs/FPIs bought Rs.49 billion in July 2022 and Rs. 224.53 billion in August 2022 (as of 12th August 2022).
· US CPI came down to 8.5% in July from 9.1% in June.
· Wallstreet indices closed on positive note as inflation level eased more than expected.
· UK GDP expanded by 2.9% on yearly basis during Apr-Jun 2022 on preliminary estimate.
· UK industrial production rose by 2.4% in June on yearly basis.
