As markets around the globe continue to price in Donald Trump's victory in US presidential elections and Federal Reserve's rate cut decision, the truncated week ahead will bring investors' focus on inflation data from US and India, more corporate earnings towards the season-end, and the listing of another food delivery company.
Indian markets will remain closed on Nov. 15 on account of a bank holiday.
From Asia, Japan's gross domestic product growth and the country's producer price index will be key to watch, along with markets reaction to China's inflation data released on Nov. 9.
In India's primary market, four companies will debut on exchanges—Niva Bupa Health Insurance Co., Swiggy Ltd., Acme Solar Holdings Ltd., and Sagility India Ltd.
Among the companies whose initial public offerings will open for retail subscription are Zinka Logistics Solutions Ltd., Onyx Biotec Ltd., and Mangal Compusolution Ltd.
Market Recap
The NSE Nifty 50 and BSE Sensex erased weekly gains as global political and economic events caused volatility in the domestic markets. The benchmark indices ended lower for second day in a row on Friday, as ICICI Bank Ltd. and Reliance Industries Ltd. share prices dragged.
Weekly, the benchmark indices fell 0.64% and 0.30%, respectively. Nifty Realty declined the most, while the Nifty IT was the top gainer.
On Friday, foreign investors pulled out Rs 3,404.04 crore from the Indian markets, whereas domestic institutional investors added Rs 1,748.44 crore.
Asian markets saw a mixed closing with the main indices of Japan and Australia ending in the green, while those of Hong Kong and China closing with losses. In comparison, the US stock market closed higher but most European indices fell.
Domestic Factors: Big Earnings, Listings, Inflation Data
As earnings season reaches its fag-end, companies like Hero MotoCorp, HAL, Grasim Industries, Ipca Labs, Bharat Dynamics, Sobha, Swan Energy, Sanghvi Movers, Reliance Infrastructure, Muthoot Finance, and PTC Industries, among others, will announce their quarterly results this week.
Investors also await the release of country's consumer price index on Tuesday. An Informist poll of 20 economists suggest India's headline inflation rate likely rose to a 14-month high of 5.9% in October led by a surge in food prices.
Citi Research's report ruled out the possibility of a rate cut by the RBI in December as it expects India's retail inflation to have breach the upper limit of 6% of the Reserve Bank of India's target band in October due to a sharp rise in food prices.
In the equities market, the listing of Swiggy—whose Rs 11,327.4-crore IPO was the second largest in India in 2024—will also be keenly watched. The tentative listing date is Nov. 13.
Global Factors: US Oct CPI, Japan GDP, Fed Speakers
Market participants across the globe will watch the release of US CPI data on Wednesday. Economists expect the US retail inflation to increased 0.2% in October.
From Asia, Japan's GDP and the country's producer price index will be in focus, along with the market's reaction to China's inflation data released on Nov 9.
Speeches from various US Federal Reserve speakers is also expected to guide the market. In US, equities have been rising as traders assess the impact of Trump's win on companies It remains to be seen if the upbeat sentiment continues at the Wall Street in the upcoming week.
Primary Market Action
IPOs Opening For Subscription
Zinka Logistics: The company, which counts Goldman Sachs, Accel and Flipkart among its investors, will launch the public offer on Nov. 13 with a fresh issue worth Rs 550 crore and an offer-for-sale of around 2.07 crore shares.
Onyx Biotech: The IPO of SME Onyx Biotech, who provides sterile water for injections, will also open on Nov. 13. The company's issue is of Rs 29.34 crore.
Mangal Compusolution: To be listed on BSE SME, Mangal Compusolution IPO is a fixed price issue of Rs 16.23 crore. The company deals in IT equipments.
Four companies will debut on exchanges including Niva Bupa, Swiggy, Acme Solar, and Sagility India.
Corporate Actions
Indraprastha Gas Ltd., Rites Ltd., and Power Grid Corp. are some of the stocks that will trade ex-dividend next week. Bajaj Steel Industries Ltd. will trade ex-bonus and JTL Industries Ltd. will trade ex-split.
| Interim Dividend: | |||
|---|---|---|---|
| Company | Ex Date | Record Date | Dividend (in rupees) |
| Indraprastha Gas | 12-Nov-24 | 12-Nov-24 | 5.5 |
| DCM Shriram | 11-Nov-24 | 11-Nov-24 | 2 |
| TD Power Systems | 11-Nov-24 | 11-Nov-24 | 0.6 |
| D-Link (India) | 12-Nov-24 | 12-Nov-24 | 5 |
| Indian Railway Finance Corp | 12-Nov-24 | 12-Nov-24 | 0.8 |
| Indraprastha Gas | 12-Nov-24 | 12-Nov-24 | 5.5 |
| PDS | 12-Nov-24 | 12-Nov-24 | 1.65 |
| Amara Raja Energy & Mobility | 14-Nov-24 | 14-Nov-24 | 5.3 |
| Aptus Value Housing Finance India | 14-Nov-24 | 15-Nov-24 | 2 |
| Astral | 14-Nov-24 | 15-Nov-24 | 1.5 |
| Container Corp of India | 14-Nov-24 | 15-Nov-24 | 3.25 |
| Indian Metals & Ferro Alloys | 14-Nov-24 | 15-Nov-24 | -- |
| Indian Railway Catering and Tourism Corp | 14-Nov-24 | 14-Nov-24 | 4 |
| KP Energy | 14-Nov-24 | 14-Nov-24 | 0.2 |
| KP Green Engineering | 14-Nov-24 | 14-Nov-24 | 0.2 |
| KPI Green Energy | 14-Nov-24 | 14-Nov-24 | 0.2 |
| Oil India | 14-Nov-24 | 15-Nov-24 | 3 |
| Page Industries | 14-Nov-24 | 16-Nov-24 | -- |
| Power Grid Corp of India | 14-Nov-24 | 14-Nov-24 | 4.5 |
| QGO Finance | 14-Nov-24 | 15-Nov-24 | 0.15 |
| RITES | 14-Nov-24 | 15-Nov-24 | 1.75 |
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