As the markets around the globe price in the escalating friction between Russia and Ukraine, the week ahead will bring focus on important domestic and international data points like the gross domestic product and minutes of the Federal Open Market Committee's meeting.
On the domestic front, the upcoming listing of NTPC Green Energy Ltd. and the developments regarding the formation of the Maharashtra government after the assembly election results will be important events to track. India's fiscal deficit and eight core industries data will also be important data points to watch.
Among the companies, Power Finance Corp., IPCA Laboratories Ltd., Natco Pharma Ltd., Procter & Gamble Health Ltd. and Godfrey Phillips India Ltd. are some of the stocks that will trade ex-dividend next week, making them important stocks to watch.
Market Performance This Week
The NSE Nifty 50 and the BSE Sensex posted their best session in over five months on Friday, closing with gains of more than 2%. This rally helped the Nifty 50 achieve its strongest weekly performance in nearly two months.
The Nifty 50 surged 557.35 points or 2.39% on Friday, to close at 23,907.25, while the Sensex rose 1,961.32 points or 2.54% to finish at 79,117.11.
Both the benchmark indices saw a sharp rise after 1:30 p.m., with the Nifty climbing as much as 2.6% to 23,956.10 and the Sensex jumping 2.67% to 79,218.19. This marked the highest intraday jump since June 5.
The broader indices underperformed, with the BSE MidCap rising 1.3% and the SmallCap gaining 0.9%.
All 21 sectoral indices on the BSE closed higher, led by a strong performance in the IT sector.
The market breadth favoured the bulls, with 2,455 stocks advancing, 1,463 declining and 124 remaining unchanged on the BSE.
On a weekly basis, the Nifty 50 rose 1.59%, marking its best weekly gain since late September, while the Sensex climbed 1.98%. On the NSE, eight sectors advanced, three declined, and one remained flat. The Nifty Realty index posted the largest gain, while the Nifty Media index saw the steepest decline.
Domestic Factors: GDP, Fiscal Deficit
Among important data points, fiscal deficit and the GDP data will be released on Friday. The data for eight core industries output will also be released on Friday.
The data for India's forex reserves will also be released on Friday by the Reserve Bank of India.
In political events, the developments regarding the formation of the Maharashtra government will be closely watched after the election results were declared on Nov. 23.
Issues such as economic development, infrastructure, and social welfare programmes are likely to dominate the election discourse.
Also Read: Catalysts That Triggered FII Exodus In India Will Not Sustain, Says Julius Baer's Mark Matthews
Global Factors: FOMC Meeting Minutes, US GDP Data
The US Fed is expected to release the FOMC meeting minutes on Tuesday. The US GDP data will be released on Wednesday along with the durable goods orders data.
Initial jobless claims data will also be released on Wednesday due to Thanksgiving holiday on Thursday and Friday. Core PCE Price Index data will also be released on Wednesday.
Japan's industrial production data is expected to be released on Thursday. On Friday, the CPI data for Europe and China's manufacturing and non-nanufacturing PMI data will be released.
IPOs And Listings Next Week
NTPC Green Energy Ltd. is set to debut on the stock exchanges on Wednesday after its highly anticipated maiden public issue. The Rs 10,000-crore initial public offering was entirely a fresh issue of approximately 92.6 crore shares.
The IPO of Enviro Infra Engineers will remain open for subscription on Monday and Tuesday before listing on Friday. The IPO, which opened on Friday, comprises a fresh issue of 3.86 crore equity shares worth Rs 572.5 crore and an offer for sale of 52.7 lakh shares worth approximately Rs 78 crore by promoters. It was subscribed 2.08 times on its first day.
The SME IPOs that will be open for subscription during the week include Ganesh Infraworld Ltd., Agarwal Toughened Glass India Ltd., Apex Ecotech Ltd., Abha Power and Steel Ltd., Rajputana Biodiesel Ltd. and Rajesh Power Services Ltd.
The subscription for C2C Advanced Systems and Lamosaic India SME IPOs closes on Tuesday and both companies will list in the SME space on Friday.
Corporate Actions
Power Finance Corp., IPCA Laboratories Ltd., Natco Pharma Ltd., Procter & Gamble Health Ltd., Godfrey Phillips India Ltd., are some of the stocks that will trade ex-dividend next week.
Gillette India Ltd., Balrampur Chini Mills Ltd. and Happiest Minds Technologies Ltd. will also trade ex-dividend next week. Shakti Pumps Ltd. and Spright Agro Ltd. will trade ex-bonus in the coming week.
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