The domestic equity market could experience heightened volatility in the coming week, driven by a mix of global signals and Q1 FY26 corporate earnings releases. Countries would continue to accelerate trade negotiations with the US ahead of President Trump's self-impose August 01 deadline.
On the earnings front, Bharat Electronics, Adani Green Energy, Torrent Pharmaceuticals, GAIL India, Mazagon Dock Shipbuilders, Waaree Energies, Adani Total Gas, and IndusInd Bank will announce their quarterly financials on Monday, July 28.
On Tuesday, July 29, Larsen & Toubro, NTPC, Asian Paints, Varun Beverages, Bank of India, and Piramal Enterprises are scheduled to report their results.
Power Grid Corporation of India, Tata Steel, Hyundai Motor India, Indus Towers, Kaynes Technology India, and KPIT Technologies will release their earnings on Wednesday, July 30.
Earnings scheduled for Thursday, July 31, include Hindustan Unilever, Sun Pharmaceutical Industries, Mahindra & Mahindra, Maruti Suzuki India, Coal India, Ambuja Cements, Eicher Motors, TVS Motor Company, Swiggy, and Dabur India.
On Friday, August 1, ITC, Tata Power Company, Godrej Properties, GlaxoSmithKline Pharmaceuticals, Multi Commodity Exchange of India, Honeywell Automation, and LIC Housing Finance will announce their quarterly results.
India:
India’s industrial production data will be announced on Monday (July 28). The domestic industrial production expanded by 1.2% year-on-year (YoY) in May of 2025. The expansion was, however, lower when compared to the 2.6% increase recorded in April.
Indian government’s budget balance for the month of June would be made public on Thursday (July 31). India’s fiscal deficit stood at Rs 0.13 trillion in April-May 2025–26, down from Rs 0.51 trillion in the same period a year earlier, representing 0.8% of the government’s full-year target compared to 3.1% last year.
The India manufacturing PMI value for July would be unveiled on Friday (August 01). The HSBC India Manufacturing PMI climbed to 59.2 in July 2025 from 58.4 in the previous month, according to preliminary estimates.
China:
Two manufacturing PMI values for the Chinese economy for the month of July would be released next week. The NBS Manufacturing PMI would be announced on Thursday Thursday (July 31) and Caixin Manufacturing PMI will be released on Friday (August 01).
China's official NBS Manufacturing PMI climbed to 49.7 in June 2025 from May’s 49.5, marking the third consecutive month of contraction in factory activity.
The Caixin China General Manufacturing PMI unexpectedly rose to 50.4 in June 2025, up from 48.3 in May, which had marked the steepest contraction since September 2022. The upturn came as output grew at the fastest pace since last November, driven by a fresh increase in new orders amid improved trade conditions and promotional activities.
United States:
In the United States (US), numbers relating to job openings for the month of June would be announced on Tuesday (July 29). The number of job openings in the US rose by 374,000 to 7.769 million in May 2025, the highest level since November 2024. The largest gains were seen in accommodation and food services, followed by finance and insurance. In contrast, job openings in the federal government declined.
The GDP growth rate numbers for the American economy would be made public on Wednesday (July 29) same day. The US economy contracted at an annualized rate of 0.5% in Q1 2025, making it the first quarterly contraction in three years.
The weaker GDP figure was largely driven by significant downward revisions to consumer spending and exports. These declines were only partially offset by a downward revision to imports. Federal government spending also dropped while fixed investment numbers recorded an increase.
On the same day, the US Federal Reserve will also announce its interest rate decision. At the June meeting, most Fed officials considered a reduction in the fed funds rate likely to be appropriate at some point this year, noting that upward pressure on inflation from tariffs may be temporary or modest, that medium- and longer-term inflation expectations had remained well anchored, or that some weakening of economic activity and labor market conditions could occur.
The figures for the US Core PCE Price Index would be announced on Thursday (July 31). The core PCE price index in the US, which excludes volatile and energy prices, went up 0.2% from the previous month in May of 2025. From the previous year, the index has risen by 2.7%.
The US non-farm payrolls data, the unemployment rate and the manufacturing PMI figure would be released on Friday (August 01).
US nonfarm payrolls rose by 147K in June 2025, following an upwardly revised 144K in May. The reading was also in line with the average monthly gain of 146K over the prior 12 months.
The US unemployment rate edged down to 4.1% in June 2025 from 4.2% in May. The rate has held within a narrow 4.0%–4.2% band since May 2024, signaling broad labor market stability.
The ISM Manufacturing PMI edged up to 49 in June 2025 from 48.5 in May, compared to forecasts of 48.8, signalling economic activity in the manufacturing sector contracted for the fourth consecutive month. However, the rate of contraction slowed, amid a rebound in production and improvements in inventories.