During the upcoming week, the momentum in the equity market will be primarily driven by quarterly earnings reports, macroeconomic data releases, global developments, and the trading activities of foreign investors. Additionally, movements in the global oil benchmark, Brent crude, as well as fluctuations in the rupee, will play a significant role in influencing market trading.
"Market participants will be keeping an eye on the movement of rupee against the dollar and crude oil prices. Investments by Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) will also be monitored," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Market last week
In the previous week, the BSE benchmark recorded a gain of 167.22 points, equivalent to a 0.25 percent increase, while the Nifty saw an uptick of 15.2 points, translating to a 0.07 percent rise.
The benchmark indices on Friday ended the day on a positive note. The 30-share BSE Sensex was up by 364.06 points or 0.55 per cent, to close at 65,995.63. Meanwhile, the NSE Nifty, was rose by 105.70 points or 0.54 per cent to end the day at 19,651.45. Nifty Bank gained 159.35 points or 0.36 per cent at 44,372.70.
Quarterly Earnings
Next week, the IT industry will commence the corporate earnings season for the July-September quarter of FY24. TCS, Zaggle is scheduled to announce its Q2 results on October 11. On October 12, quarterly earnings announcements are expected from HCL Technologies, Infosys, and HDFC AMC. Following that, HDFC Life Insurance Company will release its numbers on October 13, Avenue Supermarts on October 14, and HDFC Bank on October 15.
IPO
In the upcoming week, the stock market is gearing up for several initial public offerings (IPOs).
In the primary market, Arvind and Company Shipping Agency, based in Gujarat, will open its Rs 14.74-crore IPO for subscription from October 12 to 16, with a share price of Rs 45.
In the SME segment, the IPO for Committed Cargo Care will close on October 10.
For listings, Plaza Wires, a Delhi-based wires manufacturing company, will debut on the bourses on October 13. Arabian Petroleum and event management firm E Factor Experiences will list their shares on the NSE Emerge on October 9.
CPI, WPI Inflation and Industrial output data
Market participants will be closely monitoring the release of CPI inflation data for September on October 12. Furthermore, industrial production and manufacturing production data for August will be released on the same day.
On October 13, there will be announcements regarding WPI inflation, balance of trade data for September, and foreign exchange reserves for the week ending October 6.
Global economic data
In the global marketr, investors will be paying close attention to the release of the FOMC minutes from the September policy meeting on October 11, as well as the scheduled US inflation data on October 12.
Additionally, speeches by several Fed officials during the upcoming week will also be under scrutiny.
Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd, said, global and domestic economic data, FII/DII trading activity, upcoming Q2 earnings season, crude oil inventories, movement of rupee against the dollar and treasury bond yields will drive the market in the coming days.
Markets will take further cues from major global events such as Eurozone inflation data, US initial jobless claims and FOMC (Federal Open Market Committee) minutes, he said.
