US GDP Data To G7 Summit: 5 Triggers That May Guide Share Market Next Week

Share Market News: The US is set to announce its GDP growth rate for the first quarter of the current year. Also, G7 leaders will hold a meeting in Germany this week. Any major decision on the current geopolitical crisis may lead to a change in markets.

Share Market News | New Delhi: Indian share market closed in the green on Friday. However, it is too soon to say that the market has recovered. According to experts, global cues continue to show economic distress. The production activities in developed countries continued to be muted. This has led to experts stating that people should look for fundamentally strong stocks, instead of weaker ones.

However, there are several factors that will determine the performance of the Indian share market in the coming week. The US is set to announce its GDP growth rate for the first quarter of the current year. Also, G7 leaders will hold a meeting in Germany this week. Any major decision on the current geopolitical crisis may lead to a change in markets.

5 triggers that may guide the share market next week

1. G7 Summit: The G7 Summit for 2022 is scheduled to take place in Germany between June 26 and 28. Prime Minister Narendra Modi has reached the European country. The share market will closely watch the outcome of the meeting. If the current geopolitical tensions continue to escalate, there may be more and more FPIs exiting the markets.
2. Oil Prices: OPEC+ will also meet this week to decide the further course of action. Despite a sharp rise in oil prices, OPEC has not taken any significant steps to control them. If anything in the positive direction is done and oil prices are brought down, it will play a big factor in reducing the global inflationary pressure.
3. US GDP Data: The US will release its GDP data for the first quarter of the current fiscal. If the numbers are disappointing, it might trigger sharp selling in the global markets. This will have an impact on Dalal street as well.
4. Dollar Index and Gold Rates: The movement of the dollar index will guide the markets. Last week, the dollar index remained strong. If it continues to rise, FIIs may continue selling.
5. UK Sales: The UK inflation has reached a 40-year high. The data relating to retail sales will be released this week. The low retail figures will take a toll on the share markets, of Europe as well as India.