Action-packed week ahead; monsoon, OMCs, IIP, CPI data to buzz markets

Investors can expect an exciting week ahead as monsoon, global and domestic macroeconomic data, including movement in crude oil price, rupee and investment of FPIs and DIIs are likely to the shape sentiments during the week.

Public sector oil marketing companies, HPCL, BPCL and IOC will be in focus as the government has decided to revise the petrol and diesel prices on a daily basis, starting from June 16 2017. Earlier, fuel prices were revised twice a month; once in the middle of the month and the next towards the end of the month.

Investors are keeping a close watch on the progress of the southwest monsoon. IMD on Thursday said that the rains will be very likely at most of the places over the west coast and north-eastern states from June 8 to June 14.

The government during the post market hours of Monday is going to announce the industrial production data (IIP) for the month of April 2017 and the consumer price index (CPI) for May 2017 are among the macroeconomic data.

On the global side, US Fed Reserves’ monetary policy is due on Wednesday. Whereas on the same day, China’s industrial production data, Japan’s and Eurozone’s industrial production data is also due. Bank of Japan’s monetary policy statement is scheduled to happen on Friday.

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