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D-Street week ahead: All eyes on Union Budget; auto sales, Q3 earnings, COVID to be in focus

D-Street week ahead: All eyes on Union Budget; auto sales, Q3 earnings, COVID to be in focus

D-Street week ahead: All eyes on Union Budget; auto sales, Q3 earnings, COVID to be in focus
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By Sandeep Singh  Jan 30, 2022 5:52 PM IST (Published)

Key factors to watch on Dalal Street: The Union Budget and the Economic Survey will be in the spotlight in the market this week. Besides, auto sales, PMI surveys and coronavirus updates will remain in focus. Here are a few important things to track this week.

The Union Budget for the coming financial year will take centre stage on Dalal street this week. The Economic Survey for the year ending March 2022, to be released a day prior to the presentation of the Budget in Parliament, will also be in focus to assess the resilience of the economy against the coronavirus pandemic.

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Corporate earnings will also be in the spotlight once again.
The week that was
Headline indices Sensex and Nifty50 fell around three percent each last week -- a second straight weekly loss -- dragged by IT stocks, as the outcome of the Federal Reserve's scheduled policy review rattled world markets. Gains in PSU banks lent some support. The Sensex lost 1,837 points and the Nifty shed 515.2 points. 
Broad-based weakness pulled both benchmarks lower. The Nifty Midcap 100 fell 2.5 percent and its smallcap counterpart 3.7 percent.
As many as 38 Nifty50 stocks finished the week in the red.
LosersGainers
StockWeekly change (%)StockWeekly change (%)
Tech Mahindra-15.4Maruti Suzuki6.4
Bajaj Finserv-11.9Bajaj Auto5.7
Wipro-10.3Cipla5.7
Tata Steel-10.1Axis Bank4.9
Titan-9.7NTPC3.9
Divi's-9IndusInd3
Bajaj Finance-8.8SBI2.4
Dr Reddy's-8.1ONGC1.2
HCL Tech-8.1HUL1
JSW Steel-8Sun pharma0.9
Around 410 stocks in the BSE 500 index -- the broadest index on the bourse -- succumbed to negative territory.
The week ahead
All eyes will be on the government's Budget for FY23. Auto sales, readings of manufacturing as well as services PMI surveys, corporate earnings and COVID updates will also be on investors' radar.
"We expect the government to continue with the growth agenda but with a roadmap for fiscal prudence... We believe the Union Budget would set the tone for the domestic market amid the global sell-off. Volatility remains high during the Budget week so participants should continue with a cautious stance and prefer hedged positions," said Ajit Mishra, VP-Research at Religare Broking.
A slew of companies are slated to report their quarterly financial results during the week, including Tata Motors, Sun Pharma, Indian Oil, BPCL, HDFC, ITC, Titan and SBI.
Technical outlook
The Nifty50 is trading around its 100-day exponential moving average on the daily chart, and appears to have found a cushion at the previously established demand zone of 16,850, according to Yesha Shah, Head of Equity Research, Samco Securities. "The Nifty Bank index is bouncing from the short-term average on the daily chart. These pieces of evidence are hinting at the continuation of a major uptrend," she said.
Shah suggests traders to maintain a bullish bias as long as the 50-scrip index holds 16,850, a break below which can trigger a fall up to 16,000. She sees immediate resistance for the index at 17,650.
She expects resistance for the index at 18,300, and advises traders to maintain a cautious to mildly bullish outlook.
Religare Broking's Mishra expects the Nifty to hover in a 16,600-17,600 range. "A decisive break on the either side will trigger the next directional move," he said.
Here are the key factors and events that are likely to influence Dalal Street in the week starting January 31:
DOMESTIC CUES
Jan 31: Economic Survey for FY22, infrastructure output data
Feb 1: Union Budget, manufacturing PMI survey
Feb 2: Trade data
Feb 3: Services PMI survey
Earnings
DateQuarterly earnings
Jan 31Tata Motors, Indian Oil, Bharat Petroleum, Sun Pharma, Suven, DLF, Infibeam, KPIT Tech, UCO Bank, UPL, Exide, Krsnaa
Feb 1Tech Mahindra, Adani Ports, Indian Hotels, JSPL
Feb 2HDFC, Tata Consumer, Zee, Apollo Tyres, Adani Total, Adani Green, Dabur, Jubilant FoodWorks, Indian Overseas Bank, JK Lakshmi Cement, Zydus Wellness, M&M Financial, Reliance Capital, Windlas Biotech
Feb 3ITC, Titan, GAIL, Adani Power, Adani Transmission, AB Capital, Cadila, Lupin, JK Tyre, Rolex Rings
Feb 4Divi's, InterGlobe Aviation, Aditya Birla Fashion, Devyani International, Paytm
Feb 5SBI, Bank of Baroda, GoColors
IPO
AGS Transact Technologies shares will be listed on stock exchanges BSE and NSE on January 31. Adani Wilmar's IPO will close for subscription on the same day.
Vedant Fashions' IPO to raise up to Rs 3,149 crore will hit the Street on February 4.
FII flow
Foreign fund flows will remain in focus. Last week, foreign institutional investors net sold Indian equities worth Rs 19,451.6 crore ($2.6 billion), according to provisional exchange data.
Corporate action
StockEx datePurposeRecord date
CCL Products IndiaJan 31Interim dividend Rs 3Feb 1
MasketJan 31Interim dividend Rs 7Feb 1
Saregama IndiaJan 31Interim dividend Rs 30Feb 1
Visaka IndustriesJan 31Interim dividend Rs 7Feb 1
India Grid TrustFeb 1Income distribution (InvIT)Feb 2
Orient ElectricFeb 1Interim dividend Re 0.75Feb 2
PCBLFeb 1Interim dividend Rs 10Feb 2
ConcorFeb 2Interim dividend Rs 2Feb 3
Cosmo FilmsFeb 2Interim dividend Rs 10Feb 3
Hazoor Multi ProjectsFeb 2EGM-
Nakoda Group of IndustriesFeb 2EGM-
Powergrid Infra Investment TrustFeb 2Income distribution (InvIT)Feb 3
Sharda CropchemFeb 2Interim dividend Rs 3Feb 3
Share India SecuritiesFeb 2Interim dividend Rs 2Feb 3
Torrent PharmaFeb 2Interim dividend Rs 25Feb 3
Wendt IndiaFeb 2Interim dividend Rs 20Feb 3
Accelya Solutions IndiaFeb 3Interim dividend Rs 17Feb 4
Bigbloc ConstructionFeb 3Interim dividend Re 0.1Feb 4
Dhruv WellnessFeb 3EGM-
Greenpanel IndustriesFeb 3Interim dividend Rs 1.5Feb 4
GRM OverseasFeb 3Interim dividend Re 1Feb 4
IEXFeb 3Interim dividend Re 1Feb 4
IIFL FinanceFeb 3Interim dividend Rs 3.5Feb 4
IIFL SecuritiesFeb 3Interim dividend Rs 3Feb 4
Integra Garments & TextilesFeb 3Stock split from Rs 3 to Re 1Feb 4
Intellivate Capital AdvisorsFeb 3EGM-
Kirloskar Ferrous IndustriesFeb 3Interim dividend Rs 2.5Feb 4
LA Opala RGFeb 3Interim dividend Re 1.5Feb 4
Motilal Oswal Financial ServicesFeb 3Interim dividend Rs 7Feb 4
NTPCFeb 3Interim dividendFeb 5
Parshva EnterprisesFeb 3Bonus issue 205:100Feb 4
Sanrhea Tech TextilesFeb 3EGM-
Sindhu Trade LinksFeb 3Stock split from Rs 10 to Re 1Feb 4
SRFFeb 3Interim dividend Rs 4.75Feb 4
Sword-Edge CommercialsFeb 3Bonus issue 1:1Feb 4
SymphonyFeb 3Interim dividend Rs 1Feb 4
Transport Corp of IndiaFeb 3Interim dividend Rs 2Feb 4
TCI ExpressFeb 3Interim dividend Rs 3Feb 5
Thangamayil JewelleryFeb 3Interim dividend Rs 5Feb 4
Upsurge Investment & FinanceFeb 3Interim dividend Re 0.5Feb 4
Vaibhav GlobalFeb 3Interim dividend Rs 1.5Feb 5
ZensarFeb 3Interim dividend Rs 1.5Feb 4
Chambal Fertilisers & ChemicalsFeb 4Interim dividend Rs  4.5Feb 7
Embassy Office Parks REITFeb 4Income distribution RITESFeb 7
MaricoFeb 4Interim dividend Rs 6.25Feb 7
Siyaram Silk MillsFeb 4Interim dividendFeb 7
GLOBAL CUES
DateUSEuropeAsia
Jan 31Germany inflation dataJapan factory output data, retail sales data, consumer confidence reading
Feb 1Manufacturing PMIUK housing data, consumer credit data, France inflation dataJapan unemployment rate
Feb 2Crude stockpile
Feb 3Jobs dataUK rate decisionJapan services PMI
Feb 4Employment rate
 
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