InvestorQ : What are the major cues for the trading week starting on 09 August?
Riya Dwivedi made post

What are the major cues for the trading week starting on 09 August?

diksha shah answered.
1 year ago

Here are the major cues for the coming week starting Monday.

· Nifty broke above 16,000 decisively, putting the market in new zone. Now 16,200 becomes the new support. Option writing hints at 16,000 to 16,500 range. While large caps dominated the week, onus shifts to financials to lead the rally in the coming week.

· Big quarterly results include Tata Steel, ONGC, Coal India, Shree Cements, Lupin, BPCL, Eicher, Hero Moto and Grasim. Results of some recent IPO names like Zomato, Clean Science, Heranba, KIMS, Suryoday and Burger King expected during the next week.

· Next week to be busy for IPO markets. 4 IPOs to raise Rs.15,000 crore viz. Nuvoco Vistas, Chemplast, CarTrade and Aptus Value Housing Finance. After the tepid listing of Glenmark Life at 4.2% premium, all eyes will be on Rolex Rings listing on 09 August.

· Coronavirus situation improves in India but hints of worsening in the US, Turkey, Italy, France, Iran, Mexico, Iraq, Malaysia and Belgium reported. FPIs turned net buyers of Rs.2,616 crore in the week with 2-day infusion of Rs.5,000 crore after sell-off in July.

· Big data week likely in terms of Macros. IIP and CPI inflation data to be out on Thursday, 12th August. In IIP, the focus will be on sequential growth while in CPI inflation, markets will be keen to see food, fuel and core inflation taper.

· Key US data points include, JOLT job openings, Q2-non-farm productivity, July inflation, jobless claims, PPI and MBA mortgages. Other global data points to cover EU industrial output; Japan PPI, machine tool orders; China inflation, PPI and vehicle sales