India News Get -BusinessD Street Week Ahead, Q2 Results, Cpi Wpi Inflation Data, FII Flows, IPOs Among Key Factors To Watch
There could be ups and downs in the stock market this week. The market will be keeping an eye on Q2 corporate results, US inflation data, Fed Chairman Jerome Powell’s speech, India retail and wholesale inflation, national economic data, global economic data, FII-DII flows and upcoming IPO. The market will remain closed on November 15 on the occasion of Guru Nanak Jayanti.
Such factors that will decide the market movement this week…
Second quarter corporate results
This week, more than 2,500 companies will release their September quarter (July-September) results. Results from major Nifty-50 companies like ONGC, Britannia Industries, Hindalco, Shree Cement, Eicher Motors, Grasim Industries and Hero MotoCorp will also come.
Apart from this, Hyundai Motor, Nykaa, FirstCry, MamaEarth, Vodafone Idea, Bank of India, Hindustan Copper, Apollo Tyres, Happiest Minds Technologies, Kalyan Jewellers, NBCC, PI Industries and Muthoot Finance will also announce their quarterly results.
Retail and wholesale inflation
Investors will keep an eye on retail and wholesale inflation numbers. Retail inflation data will be released on November 12 and wholesale inflation data on November 14. Industrial production figures for September will also be released on November 12.
Passenger vehicle sales figures for October will be released on November 13. The market will be watching on November 15 for October fiscal deficit data, foreign exchange reserves for the week ending November 8, and bank loan and deposit growth data for the fortnight ending November 1.
American inflation
U.S. inflation and retail sales data will be released for October. This will influence the Fed’s interest rate decision at its next meeting in December. According to experts, consumer inflation could rise slightly from the 2.4% recorded in September, while core inflation is expected to remain stable at 3.3%.
Additionally, the market will keep an eye on speeches from several Fed officials during the week, including Powell’s on November 15. Although he said after the November policy meeting that he did not rule out an interest rate cut in December, economic indicators would play an important role in deciding the Fed’s next step.
The Chairman of the US Federal Reserve, Jerome Powell. (archive photo)
global economic data
Second estimates of Eurozone GDP data for the third quarter of 2024, as well as preliminary estimates of third-quarter GDP data from the United Kingdom and Japan, will also be due next week. China will release its retail sales, industrial production, house price index and unemployment figures for October this week.
FII-DII flow
The market has been showing weakness for over a month due to selling by foreign institutional investors (FIIs). In such a situation, this week also, investors will keep an eye on the activities of FII and DII.
The continued selling of FIIs has created enormous pressure in the market. However, DII managed to compensate for this to a large extent and provided significant support to the market.
FIIs remained net sellers in the cash segment for 30 consecutive days since September 27, selling shares worth Rs 1.45 lakh crore. On the other hand, during the same period, DII purchased shares worth Rs 1.35 lakh crore. So far in the current month, FIIs have sold shares worth Rs 19,850 crore net and DIIs bought shares worth Rs 14,014 crore net.
oil price
Next week, the market will keep an eye on oil prices, which have remained stable so far. India is a net importer of oil, so any major change in this area affects the markets.
Brent futures, the international benchmark for oil prices, ended the week up 1% at $73.87 a barrel after China launched a massive debt swap program to boost production. economic growth.
However, it continued to trade below all major moving averages, which is a positive sign. Its prices have remained below $80 in recent weeks, which has relieved oil importers.
Initial Public Offering (IPO)
Initial public offerings (IPOs) of three companies will begin in the coming week. Blackbuck app operator Jinka Logistics Solutions will make an IPO worth Rs 1,115 crore in the motherboard segment. This IPO will be open for subscriptions on November 13.
Niva Bupa Health Insurance’s IPO will close on November 11, raising Rs 2,200 crore. Segility India shares will be listed on the stock exchange on November 12. After this, the listing of Swiggy and ACME Solar Holdings will take place on November 13. Niva Bupa will also be listed next week, on November 14.
Last week, Sensex lost 237 points.
Over the last trading week as a whole, the Sensex fell by 237.8 points (0.29%). Apart from this, a decline of 156.15 points or 0.64% was also seen in Nifty.
On the last trading day, i.e. Friday, November 8, the Sensex closed at 79,486 with a decline of 55 points. Nifty also fell 51 points and closed at 24,148 level.