The progress of southwest monsoon, narrowing current account deficit in Q4FY23, HDFC merger, and positive global data along with healthy FII inflows boosted the investors sentiment last week helping it reach new lifetime high.
Markets last week
Sensex went up by 803.14 points to settle at 64,718.56 and Nifty was up 213.45 points at 19,185.55 to end the week. Both the indices reached lifetime high on Friday with Sensex at 64,768.58 and Nifty at 19,201.70. Also, all four frontline indices Sensex, Nifty, Nifty Bank and Midcap ended the day at record close.
The markets in the coming week are expected to react to the June auto sales numbers that were released over the weekend and the HDFC-HDFC Bank merger that will be effective from July 1. In addition to this in the first week the focus would be shifting to earnings expectations as the corporate earnings would begin full fledged in the second week of July.
Domestic economic data points
The S&P Global Manufacturing PMI numbers for June will be released on July 3. While the S&P Global Services PMI and Composite PMI data for the last month will be released on July 5.
Another important data for the week is the foreign exchange reserves for the week ended in June 30 that will be released on July 7.
IPOs
Two IPOs that will be coming this week in the primary market are Senco Gold and PKH Ventures. While in the SME segment, Alphalogic Industries, a subsidiary of Alphalogic Techsys will launch a Rs 128.8-crore IPO on Monday with an issue price of Rs 96 per share and will close on July 6. The IPO of PET stretch blow moulding machines manufacturer Global Pet Industries will close on Monday. Even the Synoptics Technologies and Tridhya Tech will close the public issue on July 5.
The Kolkata-based jewellery retailer Senco Gold will open its Rs 405-crore IPO on July 4, with a price band of Rs 307-317 per share and will close on July 6.
Mumbai-based construction and development PKH Ventures opened last week and is expected to close on July 4.
Meanwhile, frozen buffalo meat exporter HMA Agro Industries is set to debut on the BSE and NSE on Tuesday, whereas in the SME segment Veefin Solutions will debut on July 5.
Auto Sales
Automobile sales that were released over the weekend will be in focus as markets will react to the data on Monday.
