What in your opinion would be the major stock market triggers to watch out for in the coming week starting on 25th October?

Here are some key market cues to watch out for in the next week.

a) Nifty gave negative closing in 4 out of 5 days last week due to inflation fears and rising cost pressures in Q2 results. However, despite going as low as 3% at one point during the week, the Nifty took support at 18,000 and closed the week just above 1% lower. That is positive. The focus will shift this week to long rollovers in F&O expiry.

b) Markets will react to weekend earnings announcements of RIL and ICICI bank. ICICI Bank reported NIMs widening to 4%. Both are likely to react positively. In Big results this week, there is Kotak Bank, Axis, L&T, Bajaj Finance, Maruti, Bajaj Auto, and NTPC among large caps. There are also Lupin, Colgate, Coforge, Zee, DLF, Apollo Tyres among mid-caps.

c) Two big IPOs expected to open this week viz. Fino Payment Bank and Nykaa from FSN E-Commerce Ventures. Nykaa is the big-ticket digital IPO opening this week. Also, Paytm is expected to announce IPO dates this week with SEBI approving the DRHP for its Rs.16,600 crore IPO.

d) Global news flows include lower dollar indexes and higher bond yields. The DXY weakening gave strength to the rupee while bond yields are indicative of Fed hawkish tone. Crude at $86/bbl means petrol price hikes are happening daily which raises a concern on the fuel component of inflation.

e) In India-specific triggers, the focus will be any signs of a resurgence of COVID, with rising cases in the UK and China. Other macro data flow include core sector numbers for September and September fiscal deficit numbers.

f) From the US key data points to impact India would include New Home Sales, durable goods orders, Q3 GDP, jobless claims, personal income, and spending. From other parts of the world, the focus will be on ECB rates, inflation flash, Q3 GDP; Japan BOJ rates, retail sales, IIP, jobs, and construction orders.