Apple's Annual Launch Event, Inflation Reading, Bajaj Housing Finance And Other IPOs: The Week Ahead
Here's everything you need to know before going into trade on Monday.
Equity markets globally will be keeping an eye on United Kingdom's monthly gross domestic product data and the European Central Bank’s decision on interest rates. At home, inflation reading and a slew of initial public offerings will be in focus.
The Bajaj Group is preparing to return to the primary market for the first time in over 30 years with an initial public offering of Bajaj Housing Finance Ltd. The housing finance company aims to raise up to Rs 6,560 crore and will open for subscription on Monday.
Apple is set to host its annual iPhone event on Sept. 9, where the company is anticipated to reveal the iPhone 16 lineup alongside a range of new devices and software updates.
This year, the spotlight will be on Apple Intelligence, the company’s cutting-edge AI technology, showcasing its enhanced features and deeper integration across the entire product ecosystem.
IPOs And Key Levels To Watch
During the week, the primary markets will be focused on four main board issues and public offerings bought out by ten small and medium-sized firms. The key offering of Bajaj Housing Finance will be available for subscription.
After four weeks of gains, the Indian markets finally faced selling pressure, said Hashim Yacoobali, Director of South Gujarat Shares and Sharebrokers. He pegged 24,804-24,735 as a major support zone, warning that a sell-off may deepen if this zone breaks. On the upside, resistance at 25,160-25,296 could see short-covering if breached.
"The index has formed a bearish engulfing candle on the weekly scale, and the next major support is near 24,480," said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Intermediates Ltd.
Domestic Cues
India’s Consumer Price Index will be released for August will be released on Sept. 13. With the previous figure at 3.54%, this data measures the change in the prices of goods and services from the perspective of the consumer.
The Wholesale Price Index for August will also be released on the same day. The previous reading was 2.04%. This data reports the change in the price of goods sold by wholesalers across India. The higher this number, the stronger the effect on consumer inflation.
Global Cues
Key economic indicators from major economies are set to influence global financial markets.
The UK's monthly GDP data for July, out on Sept. 11, will be closely monitored for signs of economic health. This figure can influence pound valuation and market sentiment toward the UK economy.
The European Central Bank’s decision on interest rates on Sept. 12 is crucial for the Eurozone. The forecast is for a reduction to 4.00% from the previous 4.25%. This change could have significant implications with a cut potentially weakening the currency, while holding or raising rates might provide support.
US initial and continuing jobless claims on the 12th will shed light on the state of the US labor market. Initial claims represent new unemployment filings, and continuing claims reflect ongoing unemployment benefits. Both reports will be watched for trends that could impact economic policy and market sentiment. The US PPI data is also set to be released on this day.
Primary Market Action
With four mainboard and 10 SME public issues set to open for bids next week, the primary markets will remain in focus throughout the week. The IPOs from Bajaj Housing Finance, Tolins Tyres, Kross, and P N Gadgil Jewellers will open for subscriptions on the mainboard space.
Aditya Ultra Steel and Gajanand International are among those receiving bids in the SME segment during the week.
Shares of SPP Polymers and Trafiksol ITS Technologies will list on the exchanges on Sept. 17.
Corporate Action Ahead
Gujarat Gas Ltd., General Insurance Corp., and SJVN Ltd. are the big names that have record dates for their interim or final dividends in the coming week.
