InvestorQ : For the current week from 17th October to 21st October, what are the major stock market cues that you are watching out for which could impact the market sentiments?
Arusha Ray made post

For the current week from 17th October to 21st October, what are the major stock market cues that you are watching out for which could impact the market sentiments?

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diksha shah answered.
2 months ago
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Here are some of the major cues to watch out for in the coming week, which could have an impact on the stock market sentiments and action.

· Indices were not too decisive as the 17,000 level remains the cut-off factor. Nifty lost -0.74% last week amidst Fed hawkishness but the concerns over data still remain. However, the mid-cap down -2.81% and small caps down -1.73% were a lot sharper. The investors are preferring the safety of larger stocks for the time being.

· Results for Q2FY23 will remain the big trigger this week. Big large cap results include ACC, Asian Paints, Axis Bank, Bajaj Finance, ITC, IndusInd Bank, TCPL, Nestle, Ultratech. Among mid cap results to watch out for are Havells, PVR, LTTS, Sasken, Tata Coffee, GMDC, Rallis, Zee, Dhampur Sugar, NELCO. OPM pressures are expected in Q2.

· We now come to the troika of rupee, oil and FPI flows which hold the key to short term sentiments for the week. Firstly, RBI Intervention supported the rupee last week and that could hold the key to rupee movement in the week, especially with rupee at Rs82.42/$. With 2 million bpd supply cuts, Brent could rally, but recession fears will rule for now. FPI flows are unlikely to improve this with the Fed still strongly hawkish.

· While no new IPOs are opening this week as of now, 2 IPOs will get listed in the week. The IPO of Electronic Mart India lists on 17th October and Tracxn Technologies on 20th October. In addition, the markets will also react to strong results of HDFC Bank and Avenue Supermarts over the week end. Also, the MPC minutes announced in the weekend hinted at pressure on rate hikes likely to abate and a shift to growth focus.

· With most of the macro data like inflation, trade and IIP already done for the month, the focus shifts to the technicals for now. The Nifty is likely to hold the range of 16,800 to 17,350 in the coming week. This is the range that has held for the last 3 weeks and in the absence of fresh cues, this range is unlikely to be decisively broken either ways.

· Finally, a look at key global data points for the week. US data points include Redbook, Capacity Utilization, IIP, API Crude weekly, Building Permits, Housing Starts, FOMC member speak. Other data points include EU ECB speak, CPI, Current Account; Japan IIP, BOJ Speak, Trade Balance; China Trade, GDP, IIP, Retail Sales.

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