GDP Data, Crude Oil Prices to Drive Indian Stock Market This Week

The Indian stock market is set to be influenced by several key economic indicators this week, according to analysts.

Domestic GDP data, crude oil prices, and the US non-farm payrolls report are expected to guide trading sentiment in the market. India's Q1 FY27 GDP data will be released on August 31, while investors will also monitor India's August manufacturing and services PMI readings, GST collections, foreign exchange reserves, and movement in the rupee.

Ajit Mishra of Religare Broking Ltd said that the outcome of the US non-farm payrolls report could significantly influence expectations regarding the Federal Reserve's September policy decision, the US dollar, Treasury yields, and emerging-market fund flows.

The Federal Reserve's recent hawkish remarks by Fed Chair Kevin Warsh have made markets look ahead to key data points in determining whether recently increased expectations of a September rate hike hold or ease. The August jobs report on September 4, along with the next inflation reading, will be crucial indicators for market sentiment.