InvestorQ : What in your view are the major trading cues for the stock market week commencing on 15 March?
Archita Jajjoo made post

What in your view are the major trading cues for the stock market week commencing on 15 March?

diksha shah answered.
2 years ago

The following are some of the major triggers for the forthcoming week starting on 15 March for the stock markets.

· Though Nifty and Sensex closed in the positive for the week, Friday fall was once again sharp and that could impact sentiments. While the VIX was lower around 21 levels, the worry is that Maharashtra Coronavirus cases are back above 16,000 per day.

· On global cues, crude oil prices is close to $70/bbl and Indian markets would be worried if crude goes above $70/bbl. Meanwhile FPI buying has surely tapered with net buying of Rs.1127 crore in the week and Rs.3328 crore month to date, tapering since 15-Feb.

· Big line-up of IPOs and listings expected during the week. Mega IPO issues include Craftsman Automation, Nazara Technologies, Suryoday SFB, Kalyan Jewellers and Laxmi Organic. The will also see the listings of MTAR Technologies and Easy Trip.

· Markets to react to CPI inflation higher at 5.03% and IIP weaker at -1.6% hinting that RBI accommodation may continue for the time being. With rising CPI, higher WPI levels will be seen as positive as it hints at manufacturers getting better price realizations.

· On global information flows, the FOMC meet outcome on 17 March will give cues on likely taper and the trajectory of Fed rate hikes. Trade data details on 15 March will be watched for the components of exports, with deficit figure already known.

· Key policy items to be tracked. Draft new Ecommerce policy may look to please offline retailers with restrictions on e-commerce players. The Rs.14,500 crore capital support for PCA banks and halt on AT1 bond rules will be positive for the market sentiments.

· This will be a week of key data points from the US, Europe and Asia. The big focus will be on the US FOMC meet and the Bank of Japan meet. In addition US retail sales, US industrial output, Japan trade and US housing stats will also be closely watched.