GDP Data and Crude Oil Prices to Guide Indian Markets

The upcoming release of India's first-quarter GDP data is set to be a crucial factor in determining market sentiment this week. The domestic growth rate, which has been impacted by elevated energy prices and an unresolved Middle East conflict, will provide clarity on the pace of growth.

Crude oil prices are another key factor that will influence trading sentiment. Ponmudi R, CEO of Enrich Money, notes that 'Markets will look ahead to the August jobs report, due September 4, along with the next inflation reading, as key data points in determining whether the recently increased expectations of a September rate hike hold or ease.'

The US non-farm payrolls report and macroeconomic data announcements are also expected to impact market movement. Auto sales numbers and trading activity of foreign investors will provide additional insights into market trends.