InvestorQ : What are the major stock market triggers and cues you see for the trading week starting on 28 June?
Tisha Malhotra made post

What are the major stock market triggers and cues you see for the trading week starting on 28 June?

diksha shah answered.
1 year ago

Here are some of the major trading cues for the week starting on 28 June.

· Fed testimony of Powell will be the key trigger holding markets higher in the coming week. Also, in the coming week, markets will digest finer points of the RIL AGM like the green energy shift, launch of Jio Next phone, Google Cloud venture etc.

· The news on the COVID front is mixed. Vaccinations during the week touch a record 3.98 crore, which is market positive momentum. However, simultaneously, Maharashtra is also tightening precautions ahead of a likely third wave expected.

· While there are no fresh IPOs this week to open, the listings of Dodla Dairy and KIMS will be keenly watched and they are likely to replicate the performance of Shyam Metalics and Sona BLW. Expect basis of allotment of India Pesticides to be finalized in the week.

· Big macro numbers for the week include core sector growth for May on 30 June and PMI on 01 July. Both will be watched for sequential effect over base effect. Auto numbers are also expected to show continued progressive growth over May.

· In corporate developments, the last round of quarterly results will include Spice Jet, Suzlon, RVNL, GMDC, NALCO, IFCI and HAL. Legal progress on the Templeton SAT hearing and the PNB Housing hearing will also be watched this week.

· FPIs sold Rs.2,686 crore of equities in the week but remained net buyers in June MTD. However, Nifty ifty call and put accumulation indices a range of 15,500 to 16,000.

· US data points focus on Fed Barkins speech, jobless claims, PMI, ISM Manufacturing, non-farm payrolls and balance of trade. Data focus on China PMI and NBS Manufacturing, Japan IIP and construction orders, EU inflation, PMI and ECB Speech.