Here’s breaking down the key triggers for Dalal Street this week:
The US would report its GDP data on June 29, followed by the initial jobless claims data on June 30. The UK would also report its GDP numbers this week.
“Globally, investors will keenly analyse the US quarterly GDP growth rate numbers. The USA would officially enter into a recession if they post negative growth and thus this could have a spill-over effect on global markets,” said Yesha Shah, Head of Equity Research, Samco Securities.
Crude oil movement
Amid worries that rising interest rates could push the world economy into recession, crude oil posted the second weekly decline last week. Brent crude settled at $113.12 a barrel.
Thanks to the scheduled expiry of June month derivatives contracts on Thursday, volatility is expected to remain this week as well.
Amid rising interest rates, FIIs have withdrawn Rs 2.13 lakh crore from equities so far in 2022. This month alone, the figure is nearing the Rs 46,000 crore mark.
Although domestic investors have been absorbing most of the outflow by…