InvestorQ : What are the major stock market cues that you see in the coming week starting on 23 August?
Niti Shenoi made post

What are the major stock market cues that you see in the coming week starting on 23 August?

diksha shah answered.
1 year ago

Here are the major triggers for the stock market in the coming week.

· In terms of macro cues, the Fed Minutes hinting at taper will remain an overhang on fears of Fed tightening. Back home, the RBI MPC minutes show that Jayanth Varma had dissented with the accommodative stance, and that will also be an overhang.

· For the stock markets, the breadth is a worry mid-cap index was down 1.14% and small cap index was down 2.27%, in the midst of large caps holding up. Meanwhile, delta variant cases could add to the volatility. F&O cues indicate Nifty range of 16,300-16,700.

· IPO listings of Windlas and CarTrade disappointed while Krsnaa Diagnostics dipped into negative after opening in the positive. Exxaro was flat, at best. In the coming week, Chemplast, Nuvoco Vistas and Aptus Value Housing will list amidst tepid conditions.

· Rupee weakened despite sharp fall in oil prices. Brent crude fell from $75/bbl to $63/bbl on delta variant fears and rising US inventories. However, the rupee weakened 11 paisa amidst strengthening dollar index. That is likely to be an overhang.

· Foreign investors will be closely watching the annual Jackson Hole Symposium starting on 26th August for cues on tapering of bond purchases. FPIs have infused nearly Rs.1,696 crore in August so far, but still better than the selling in July.

· US macro focus on Markit PMI Flash, new home sales, durable goods orders, jobless claims, Q2 GDP, July spending. Meanwhile, other global triggers include EU Markit PMI Flash, ECB Monetary Policy; Japan Jibun Bank Manufacturing, PMI Flash.