There may be ups and downs in the stock market this week. Markets will be eyeing second quarter corporate 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 IPOs. The market will be closed on November 15 on the occasion of Guru Nanak Jayanthi.
Such factors which will determine the market movement this week…
Second quarter results of companies More than 2500 companies will announce their September quarter (July-September) results this week. Major Nifty-50 companies such as ONGC, Britannia Industries, Hindalco, Shree Cement, Eicher Motors, Grasim Industries and Hero MotoCorp will also have results.
Apart from this, Hyundai Motor, Naika, Firstcry, MamaEarth, Vodafone Idea, Bank of India, Hindustan Copper, Apollo Tyres, Happiest Minds Technologies, Kalyan Jewellers, NBCC, PI Industries and Muthoot Finance will also declare their quarterly results.
Retail and wholesale inflation Investors will keep an eye on retail and wholesale inflation figures. Retail inflation data will be released on November 12 and wholesale inflation data on November 14. The industrial production figures for September will also be released on November 12.
October passenger vehicle sales figures will be released on November 13. Markets will be eyeing October fiscal deficit data 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 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 may pick up slightly from the 2.4% recorded in September, while core inflation is likely to hold steady at 3.3%.
Additionally, the market will be watching several Fed officials' speeches 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, economic indicators will play an important role in determining the Fed's next move.
US Federal Reserve Chairman Jerome Powell. (File Photo)
Global Economic Data Second estimates for Q3-CY24 GDP data from the Eurozone, 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, home price index and unemployment data for October this week.
FII-DII flow Foreign Institutional Investors (FII) selling has been a weakness in the market for over a month now. In such a situation, investors will keep an eye on the activities of FIIs and DIIs this week as well.
Continued selling by FIIs has put a lot of pressure on the market. However, DII has managed to compensate for this to a large extent and has provided strong support to the market.
FIIs were net sellers in the cash segment for 30 consecutive days since September 27, with Rs. 1.45 lakh crore shares were sold. On the other hand, during the same period, DII spent Rs. 1.35 lakh crore shares were bought. So far in the current month, FIIs have invested Rs. 19,850 crore shares and DII sold Rs. 14,014 crore net worth of shares purchased.
The price of oil Next week, the market will be watching 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, rose 1 percent to $73.87 a barrel over the weekend 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 price has remained below $80 for the past several weeks, giving relief to oil importers.
Initial Public Offering (IPO) The initial public offerings (IPOs) of the three companies will open next week. In the mainboard segment, Blackbuck app operator Jinka Logistics Solutions has Rs. 1,115 crore will be the IPO. The IPO will open for subscription on November 13.
Niva Bupa Health Insurance's IPO will close on November 11, at Rs. 2,200 crore will be collected. Segility India's shares will be listed on the stock exchange on November 12. After this, Swiggy and ACME Solar Holdings will list on November 13. Niva Bupa will also be listed next week on November 14th.
Sensex saw a drop of 237 points last week. The Sensex fell 237.8 points (0.29%) in the last trading week. Apart from this, a decrease 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 down 55 points at 79,486. The Nifty also closed down 51 points at 24,148.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
