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Dalal Street week ahead: Macro data, key earnings among the top market movers

After a week that saw the market barometers soar to new highs, traders will see if it the market can sustain the current rally for another week.

A wide range of macro numbers, including inflation and industrial growth prints, will be on the radar. Along with them, many key companies will announce their quarterly earnings.

The coming trading week will be a truncated one, as equity and commodity markets will be closed on Tuesday on account of Guru Nanak Jayanti.

Going by the buzz on Dalal Street, here are the key factors that will guide the market next week:

Key macro numbers

A number of key macro numbers to be released during week will be on the market’s radar. September industrial production and manufacturing output data will be released on Monday. The industrial production growth rate has slowed recently because of slowing demand. The central government will also release October CPI data this week, tentatively scheduled for Tuesday. On Thursday, WPI inflation numbers will be out. India will also release trade balance data on Friday.

Key Q2 earnings

September quarter earnings season is entering its last leg. On Monday, traders will eye quarterly earnings from Adani Ports, Alkem Lab, Britannia, Hindalco, Motherson Sumi and NHPC; followed by Aurobindo Pharma and Godrej Industries on Tuesday. 3M India, Adani Green and Adani Power will also release their quarterly data this week. Apart from these, a vast number of smaller companies will post their numbers through the week.

Top global cues

Marketmen will track a number of data sets from key economic blocs across the world. On Monday, Japanese central bank will release summary of opinions while the UK will come out with trade balance, GDP and September industrial production data. On Wednesday, the UK and the US will release inflation numbers. China’s IIP and retail sales for October, FDI data, UK retail sales for October, Euro area trade balance and inflation numbers are set to be released this week.

FII inflow numbers

Foreign institutional investors (FII) continued to pour money in the Indian markets as Sensex hit new highs almost every day last week and Nifty reclaimed 12,000 level. FIIs invested a net Rs 4,443 crore as per data available with NSDL. Traders will watch the further flow from the FIIs, which if it continues, can take the indices to newer heights.

Source: Economic Times