InvestorQ : Can you share with me your weekly cues for the stock market for the last week of May starting on 23rd May 2022?
vidhya Laxmi made post

Can you share with me your weekly cues for the stock market for the last week of May starting on 23rd May 2022?

diksha shah answered.
2 months ago

Here are some of the major cues and triggers that you must watch out for in the coming week of May 2022.

· It was a positive week for markets last week. Nifty closed index gains of 3.07% on a mix of selective buying and short covering. But more important, the next week could be about mid-cap and small cap stocks that gained 3.26% and 3.86% respectively. The sharp cut in excise on petrol and diesel is likely to benefit mid and small caps more.

· The results season for Q4FY22 plus FY22 virtually comes to an end this week. The major large cap results this week to watch are Bharat Electronics, Divi’s Labs, SAIL, Zomato, Grasim, Apollo, Berger, BPCL and Coal India. Some key mid cap numbers to watch are Eclerx, Ramco, MOIL, TVS Srichakra, VA Tech, Heritage, KSCL, Bata, SJVN and BDL.

· This will also see a good bit of IPO action. For instance, there will be 3 listings in the week viz. Delhivery Ltd, Venus Pipes and Paradeep Phosphates. Listing cues were not too great last week. Also, eMudhra Ltd IPO closes for subscription on 24th May while the Aether Industries IPO opens on 24th May and closes on 26th May.

· Three major forex related cues to watch. Weekly forex reserves will be put out on Friday, 27th May and will elicit interest after it dipped to $593 billion last week. With FPIs selling $4.6 billion in equity and $800 million in debt in May 2022, the rupee closed at an all-time low of Rs77.82/$ on heavy dollar buying from importers and banks.

· US FOMC minutes will be put out by the Fed on 25th May, Wednesday giving the first clue about trajectory of rate hikes in year 2022. This will also have a bearing on likely IT spending in the US. That assumes a lot of importance in the light of the recent downgrade of IT sector by JPM over top line growth and margin concerns.

· Finally, in global cues, the major US cues to watch out for are FOMC minutes, PMI, new home sales, crude inventories, QOQ GDP, jobless claims, personal spends. For rest of the world, the major cues will include UK PMI, house prices; EU PMI, ECB FSR; Japan core CPI, PMI, BOJ speak; China Industrial Profits.