What are the major stock market triggers for the week starting on 08-November?

Here are some of the major market cues and triggers to watch out for in the coming week.

· Despite the US Fed starting the tapering of bond-buying with a timetable to wind up by June 2022, Nifty closed the week in positive, but just below the psychological 18,000 mark. A positive signal for the market is the VIX falling to 15.75 levels for the week

· Two major macro data points are expected during the week. October CPI inflation data to be announced on 12th November is expected to be 15-20 bps higher at 4.5%. IIP is expected to improve, but the focus will be on the 6-month IIP compared to pre-COVID.

· This is the last big earnings week for Q2. Large-cap focus; Aurobindo, Britannia, M&M, MRF, MSSL, PEL, Tata Steel, CIL, Grasim, Hero Moto, Hindalco. Mid-cap results include Sobha, BHEL, Bosch, BOB, Oil India, CESC, NMDC, Zee, Amara Raja, Apollo, Teamlease

· It will be another busy week for the IPO markets. Apart from the mega Paytm IPO, the coming week will see the IPOs of Sapphire Foods and Latent View Analytics. Also, watch out for the listing of 2 IPOs viz. Nykaa on 11-November and Fino Payment on 12-November.

· Petrol and diesel price cut will be inflation favorable and boost markets next week. However, the option data indicate that caution will continue after the Fed taper announcement. Option writers are betting on a wide range of 17,000 to 18,000 on Nifty, indicating higher volatility over a range but with weak bias.

· FPIs remained cautious and the one factor that impacted sentiments apart from the Fed taper was the resurgence of COVID in many countries like Russia, France, Italy, China, Germany, and Ireland. FPI selling was however subdued at Rs.687 crore being a truncated week. More FPI selling is expected in the coming week.

· There are some interesting data points emerging globally this week. Major US data points include PPI, inflation, initial jobless claims, MBA Mortgage Applications, and Fed comments post the meet. In other countries, the focus will be on ECB policy (non-monetary policy) and IIP; Japan BOJ summary, current account, machine tools orders as well as China inflation and vehicle sales