Global cues may dictate trend

The market is likely to be volatile next week. Automobile and cement stocks will be focus as companies from these two sector start unveil monthly sales volume data for August 2012 from Saturday, 1 September 2012. Markit Economics will unveil HSBC India Manufacturing Managers' Index (PMI) for August 2012 on Monday, 3 September 2012. On Wednesday, 5 September 2012, Markit Economics will unveil HSBC India Services PMI for August 2012. The HSBC India Manufacturing PMI, which gauges business activity at India's factories but not utilities, fell to 52.9 in July, from 55 in June -- its biggest one-month drop since September last year. Still, the index has remained above the 50 mark that divides growth and contraction for more than three years. Manufacturing accounts for around 15% of India's gross domestic product. In Europe, European Central Bank (ECB) holds its monthly policy meeting on euro area interest rates on Thursday, 6 September 2012. The ECB slashed its interest rates to an all-time low in July. The ECB is expected to continue its easing cycle, probably as soon as in September, to help the economic recovery of recession- and crisis-ridden members of the euro zone. German Chancellor Angela Merkel holds a meeting with Spanish Prime Minister Mariano Rajoy on Thursday, 6 September 2012. UK's central bank -- the Bank of England -- holds its monthly meeting on interest rates on Thursday, 6 September 2012. The Federal Open Market Committee (FOMC) holds a two-day meeting on US interest rates on 12-13 September 2012.