There may be ups and downs in the stock market this week. The market will keep an eye on companies' second quarter results, US inflation data, Fed Chair Jerome Powell's speech, India's retail-wholesale inflation, domestic 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 which will decide the movement of the market this week…
Second quarter results of companies
This week more than 2500 companies will release their September quarter (July-September) results. Results of big 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 data. Retail inflation data will be released on November 12 and wholesale inflation data will be released on November 14. Industrial output 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 eyeing fiscal deficit data for October on November 15, forex reserves for the week ending November 8 and bank loan and deposit growth data for the fortnight ending November 1.
US inflation
US 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 may increase slightly from 2.4% recorded in September, while core inflation is likely 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 speech on November 15. Although he said after the November policy meeting that he does not rule out cutting interest rates in December, but economic indicators will play an important role in deciding the Fed's next step.
US Federal Reserve Chairman Jerome Powell. ()
global economic data
Second estimates for the Euro Zone's Q3-CY24 GDP data, as well as preliminary estimates for Q3 GDP data from the UK and Japan, are also 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 more than a month due to selling by Foreign Institutional Investors (FII). In such a situation, this week also investors will keep an eye on the activities of FII and DII.
Continuous selling by FIIs has created tremendous pressure on the market. However, DII has managed to compensate for this to a great extent and has provided strong 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 bought shares worth Rs 1.35 lakh crore. So far in the current month, FIIs have sold shares worth a net Rs 19,850 crore and DIIs have bought shares worth a net Rs 14,014 crore.
oil price
Next week, the market will keep an eye on oil prices, which have been stable so far. India is a net oil importer, so any major change in this affects the markets.
Brent crude futures, the international benchmark for oil prices, ended the week up 1 per cent at $73.87 a barrel after China launched a massive debt swap program to boost economic growth.
However, it continued to trade below all major moving averages, which is a positive sign. Its prices have remained below the $80 mark for the last several weeks, which has brought relief to oil importers.
Initial Public Offering (IPO)
Initial public offerings (IPOs) of three companies will open in the coming week. In the mainboard segment, Blackbuck app operator Jinka Logistics Solutions will have an IPO worth Rs 1,115 crore. This IPO will open for subscription on 13 November.
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 exchanges 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 14th November.
Last week there was a fall of 237 points in Sensex.
In the entire last trading week, the Sensex had fallen 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 fall of 55 points. Nifty also fell by 51 points, it closed at the level of 24,148.
Graphics Source: VaskarAssets
