Market outlook | Macro data, global trends to guide equities this week

"This week, our Q2 GDP numbers and monthly auto sales numbers will be key domestic factors. On the global front, the market will keep an eye on data from the US and any further movement of the dollar index and US bond yields. Apart from this, news flow from China will continue to cause some volatility," said Santosh Meena, Head of Research, Swastika Investmart Ltd.

Ajit Mishra, VP - Technical Research, Religare Broking Ltd, said this week participants will be focusing on key macroeconomic data -- GDP numbers and manufacturing PMI -- for cues.

"Besides, with the beginning of the new month, auto sales will also start pouring in from December 1. Apart from the domestic data set, performance of the global indices especially the US will remain on the radar," Mishra added.

GDP data for the second quarter is scheduled to be announced on Wednesday, while Purchasing Managers’ Index (PMI) data for the manufacturing sector will be released on Thursday.

"The Fed Chair's speech, which is scheduled for this week, and the release of other significant macroeconomic data will influence the market's future trajectory," said Vinod Nair, Head of Research at Geojit Financial Services.