Hi Diksha, can you tell me the major triggers for the stock markets in the coming week starting on 16 August?

Here are some of the important trading cues for the coming week.

· On the market macros, Nifty breached 16,500 despite relative tepid FPI flows on the back of large cap outperformance, up 1.5%. However, mid-caps and small caps were in the negative. At a macro level, the rising delta variant cases remain a worry.

· IPO subscriptions relatively tepid in the latest week with Nuvoco and Chemplast just getting through. However, four previous week IPOs will list on Monday including Exxaro Tiles, Windlas, Devyani and Krsnaa Diagnostics. Nuvoco and CarTrade to list on 20-Aug.

· The week likely to be truncated by 2 holidays. Monday will be a bank holiday while Thursday will be market holiday too. Even as FIIs have infused Rs.879 crore in the week and Rs.3,495 crore in Aug-20 MTD, markets are expected to react favourably to exports.

· With most macroeconomic cues out of the way, WPI inflation data release on 16-Aug will be watched after sharp to be closely watched after sharp fall in retail inflation. Producer inflation hit Q1 numbers as sales fell -6% and profits -15% sequentially.

· On stock market data points, the call writing level has shifted to 16,800 and put writing has also moved higher to 16,400, hinting at a broad Nifty range of 16,300 to 17,000. VIX has remained subdued below the 13 mark during the week.

· In global data points to watch US focus on Retail Sales, Industrial Output, FOMC minutes, housing starts, Building permits and initial jobless claims. Also, EU Q2 GDP, inflation; Japan GDP, IIP, inflation, machine tool orders; China IIP and retail sales will be in focus.