India GDP to US Debt Deal, Major Economic Triggers This Week

  • Economy News
India GDP to US Debt Deal, Major Economic Triggers This Week
Credit: © Reuters.

By Malvika Gurung -- Indian equity benchmark indices closed the May 26-ended week on a strong note, jumping up to 1.6% each. Headlines Nifty 50 surged 1.63% to 18,499.35 levels and Sensex gained 1.25% during the week.

India’s GDP growth data for the quarter and financial year ended March 2023 is set to release this week, with anticipations on the Street that domestic FY23 GDP will marginally surpass the earlier projected 7.0% growth rate.

The US tentative deal to raise the Government’s $31.4 trillion debt ceiling, and Wall Street’s reaction to it will also be a major market trigger in the new week.

Further, over 1,700 companies are set to release their March quarterly earnings in the week, including market heavyweights like IRCTC (NS: INIR ), Adani Ports (NS: APSE ), Apollo Hospitals (NS: APLH ) and Adani Transmission (NS: ADAI ).

Read Also: Adani Ports, IRCTC, Apollo Hospitals to Release Q4 in Final Earnings Week

Here are some key economic events releasing this week that will likely dictate the market movement.

May 29

  • US and UK markets will remain closed on accounts of Memorial Day and Bank Holiday, respectively.
  • Japan Unemployment Rate for April: forecast at 2.5%

May 30

  • US CB Consumer Confidence for May: forecast at 99
  • China Manufacturing PMI for May: forecast at 51.4
  • Japan Retail Sales for April: forecast at 5.8%

May 31

June 1

June 2

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