Auto sales, Q1 results, PMI data & more: Check key triggers for stock markets this week

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Heavyweight HDFC Bank ended as the top drag on Sensex, followed by Infosys, TCS and Axis Bank. However, mid and smallcaps outperformed the benchmark index. The BSE Midcap index closed 0.55 per cent higher at 30,159.82 after hitting its record high of 30,178.22.

The Smallcap index rose 0.49 per cent to end at 34,548.46 after hitting its fresh record high of 34,577.99. ‘’Sectorially, it was mixed with major buying seen in realty (+1.8 per cent). Power stocks were in the limelight on the back of attractive valuations and huge investments in the sector.

Overall, we expect sectoral rotation in the market, while Nifty is likely to remain in the consolidation zone with the ongoing result season,'' said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services. For the week, Sensex slipped 0.8 per cent while the Nifty declined 0.5 per cent. The BSE Midcap index clocked a gain of 2.07 per cent this week while the Smallcap index rose 1.18 per cent.

However, domestic markets had largely witnessed resilience last week till Wednesday, July 26, even though the sentiment was subdued due to selling pressure in IT stocks. Going forward, a buzzing week awaits the primary market with five public issues to be rolled out for bidding and two new listings lined up for bourses. The market is brimming with various domestic and global macroeconomic indicators that are expected to sustain its momentum, according to analysts.