Economic Data, Earnings To Influence Trading: Experts

New Delhi: Stock markets would take cues from monthly data announcement of India's services sector, global trends and quarterly numbers of blue chips ONGC, Gail and Coal India in a holiday-shortened week starting September 5, say experts.

The stock markets will remain closed on Monday on account of the Ganesh Chaturthi festival.

"Global cues, macroeconomic data and progress of monsoon will dictate market trend in the truncated trading week ahead," said Vijay Singhania, founder-director of Trade Smart Online.

The stock markets will also look forward to the new RBI governor.

"We foresee the coming week to remain eventful on account of the release of US non-farm payroll data last week coupled with joining of new RBI governor," said Abnish Kumar Sudhanshu, director and research head at Amrapali Aadya Trading & Investments.

In absence of any major triggers, participants will continue to find trades on stock specific front, he added.

"With valuations getting expensive and lack of fresh trigger we will see consolidation at current levels before making the next move forward in the coming weeks," Mr Singhania noted.

"Quarterly result announcement of some of major companies like Oil and Natural Gas Corporation, Gail, Coal India, BHEL and SAIL are likely to add to the volatility and will set the investor sentiment," said Rohit Gadia, founder and CEO of CapitalVia Global Research.

Market movement is likely to be influenced by US non-farm payrolls data, he added.

At the domestic front, data for the services sector for August is due on Monday which may influence sentiment when the stock market opens for trading on Tuesday.

During the week ended September 2, the Sensex climbed 749.86 points or 2.69 per cent and the NSE Nifty soared 237.10 points or 2.76 per cent - the biggest weekly gains in over two months.