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D Street Week Ahead: F&O expiry, foreign fund flows and global cues likely to influence market

D-Street Week Ahead: F&O expiry, foreign fund flows and global cues likely to influence market

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By Sandeep Singh  Aug 21, 2022 8:56:50 PM IST (Published)

Global cues will take centre stage this week as Dalal Street prepares for the monthly F&O expiry week. A key GDP reading from the US and the Fed Chair's speech at the Jackson Hole symposium will be on investors' radar around the world.

The focus on Dalal Street will be on global cues this week, with a key GDP reading from the world's largest economy and a speech by Fed Chair Jerome Powell at the annual Jackson Hole symposium. Back home, the expiry of monthly derivatives — or futures and options — contracts will be in the spotlight.

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Foreign fund flows and movement in the rupee as well as crude oil will remain on investors' radar as the market returns to a full trading week following two straight holiday-truncated ones.
"The market may witness some consolidation after five straight weeks of rising and it would be healthy. We hardly saw any major decline in the Nifty50 in the recent phases of consolidation. However, a lot would depend on the performance of US indices this week where we see still see room for further upside," said Ajit Mishra, VP-Research at Religare Broking.
He expects a base for the index in the 17,300-17,600 zone this week and warns that a rebound towards 17,850-18,100 levels may attract profit booking.
The week that was
Indian equity benchmarks clocked their fifth back-to-back weekly gains last Friday, amid positive global moves and sustained buying by foreign institutional investors. Both headline indices rose 0.3 percent, with the Sensex gaining 183.4 points for the week and the Nifty50 adding 60.3 points.
As many as 30 stocks in the Nifty50 finished the week higher. Adani Ports, Eicher Motors, Larsen & Toubro, Tech Mahindra and Bajaj Finserv were the top gainers.
Bharti Airtel, Bharat Petroleum, SBI Life, NTPC and Tech Mahindra — rising between 2.5 percent and 3.2 percent — were also among the blue-chip gainers.
On the flipside, Apollo Hospitals, ONGC, UPL, Tata Steel and Hindalco were the top blue-chip laggards.
Broader indices also participated in the rise.
IndexWeekly change (%)
Nifty Midcap 1000.6
Nifty Smallcap 1000.4

FIIs have net purchased Indian shares worth a total of Rs 10,979.1 crore in two back-to-back holiday-truncated weeks, according to provisional exchange data.

Domestic institutional investors have net offloaded equities worth Rs 4,287.1 crore during this period.
Here are the key factors and events that are likely to influence Dalal Street in the week beginning Aug 22:
Aug 22China loan prime rate decision, Hong Kong inflation data
Aug 23Manufacturing and services PMI data, home sales dataServices and PMI readings from France, Germany and Eurozone; Eurozone consumer confidence data, ECB Executive Board Member Fabio Panetta to speakJapan manufacturing and services PMI data
Aug 24Crude oil stockpiles data, Fed official Neel Kashkari to speak
Aug 25GDP data, jobless claims data, Jackson Hole symposiumGermany GDP data, UK car production data, France unemployment benefit claims dataBoJ Board member Toyoaki Nakamura to speak, Hong Kong trade data
Aug 26Fed Chairman Jerome Powell to speakGermany and France consumer confidence dataJapan inflation data
Macroeconomic data
Fortnightly RBI data on deposits and loans are due on Friday.
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