Updated on 15 Jan 2018
Events that will be affect market this week
The bulls on Dalal Street finished yet another week on a terrific note, taking the winning streak to a sixth straight week. Neither surging oil prices nor lower GDP forecast for FY18 have dampened spirit of the investors and went out on a buying spree. On Friday, the domestic benchmark indices settled at a fresh lifetime peak. The BSE Sensex ended just shy of 34,600, at 34,592 (up 89 points) and the broader Nifty50 index of NSE rose 30 points to close at 10,681. On a weekly basis (January 8- January 12), the 30-share pack gained 240 points while the Nifty added 58 points. Positive Q3 numbers from IT majors TCS and Infosys are likely to give further boost to investor sentiment. However, a spike in inflation and concerns over possible fiscal slippages may put some pressure on the ongoing rally.
key events that are lined up for this week that may influence the market
Q3 numbers to be announced this week January 17 - Adani Power and Adani Transmission January 18 - Adani Enterprises and Adani Ports , Telecom major Bharti Airtel and YES Bank . January 19 - Earnings of HDFC Bank, HDFC Life, Kotak Mahindra Bank and Reliance Industries (RIL) will come out on Friday January 19. Macro numbers: There's good news and a bad news on the macro front. The good news is, India's November factory output jumped to a 25-month high driven by robust growth in manufacturing and affirming expectations of stronger second half growth in FY18. The index of industrial production (IIP) rose 8.4 per cent from a year ago, data issued by the Central Statistics Office showed on Friday. However, the retail inflation spiked to a 17-month high of 5.21 per cent in December led by an increase in food and housing prices, data released by Central Statistics Office (CSO) showed. Market may witness some volatility over surging inflation.
Two IPOs to hit D-Street: IT firm Newgen Software Technologies will launch its initial public offer (IPO) on January 16 to raise about Rs 424 crore. The company has fixed a price band of Rs 240-245 per share. ICICI Securities and Jefferies India are the global coordinators and book running lead managers to the offer. IDFC Bank is the book running lead manager to the offer, reports PTI. The issue will close on January 18. This apart, Amber Enterprises, a Gurugram-based contract manufacturer, will also launch its Rs 555-crore IPO next week. The IPO comprises fresh issue of shares worth Rs 450 crore and an offer-for-sale to the tune of Rs 105 crore. The price band has been fixed at Rs 855-Rs 859 per equity share. The issue will open on Jan 17 and close on Jan 19. Global updates: The movement of crude prices will have investors on the edges. Oil prices breached $70 a barrel last week. China will unveil its fourth quarter GDP data on Thursday. The economy is expected to grow 6.8 per cent YoY and 1.7 per cent QoQ.