Factors that will guide the markets this week

Equity markets would take cues from domestic inflation data announcement, global trends and trading activity of foreign investors in a holiday-shortened week ahead, analysts said.

Markets would remain closed on Tuesday for 'Diwali Balipratipada'.

"As we enter a truncated week with Muhurat trading on Sunday, global cues will play a pivotal role in shaping the market direction.

"On the macroeconomic front, India's retail inflation rate for October is scheduled for release on November 13, followed by Wholesale Price Index (WPI) on November 14," Santosh Meena, head of research, Swastika Investmart Ltd, said.

Stock exchanges will conduct a special muhurat trading session on the occasion of Diwali on November 12.

From macroeconomic events, inflation data for October is scheduled to be announced on Monday while WPI (Wholesale Price Index) inflation will come on Tuesday.

"Focus will be on inflation data of the US and India," Vinod Nair, head of research, Geojit Financial Services, said.

Grasim Industries, NMDC, PC Jeweller and MMTC are among companies to announce their quarterly earnings this week.

"Investors would keep a watch on domestic and global macroeconomic data, global crude oil, movement of the rupee against dollar, global trends, FIIs (Foreign Institutional Investors) and DIIs (Domestic Institutional Investors) trading activity.

"Some major economic numbers that will dictate the market trend are India's inflation data, trade balance, OPEC report, crude oil inventories, US inflation data, initial jobless claims, UK unemployment and inflation data, Eurozone GDP and inflation numbers," Arvinder Singh Nanda, senior vice president, Master Capital Services Ltd, said.

Last week, the BSE benchmark climbed 540.9 points, or 0.84 per cent, and the Nifty gained 194.75 points or 1 per cent.

"This week is a holiday-shortened one and the performance of the global indices, especially the US markets, will be on the participants' radar for cues," Ajit Mishra, SVP - technical research, Religare Broking Ltd, said.

During the Samvat year 2079 that ended on Friday, the BSE Sensex jumped 5,073.02 points, or 8.47 per cent, while the Nifty climbed 1,694.6 points or 9.55 per cent.