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D-Street Week Ahead: LIC listing, corporate earnings, FII flows likely to influence market

D-Street Week Ahead: LIC listing, corporate earnings, FII flows likely to influence market

By Sandeep Singh  May 15, 2022 8:08:10 PM IST (Published)

All eyes will be on the LIC listing due on May 17. Besides the last leg of financial results, wholesale inflation data and three new IPOs will take centre stage on Dalal Street during the week.

Corporate earnings, the market debut of Life Insurance Corporation (LIC) shares and foreign fund flows will be in focus on Dalal Street this week. Globally, a slew of scheduled speeches by central bankers, and news updates on the Russia-Ukraine war and rising COVID infections in parts of the world will be on investors' radar.

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The week that was
Indian equity benchmarks fell for a second straight week amid a market-wide sell-off, with metal and PSU banking stocks being the biggest drags. Both headline indices fell nearly four percent.
The Nifty50 shed 629.1 points for the week to settle at 15,782.2 and the Sensex lost 2,042 points to 52,793.6.
Concerns about aggressive rate hikes amid worsening inflation and receding global growth amid lockdowns in China kept investors on the back foot globally.
Broader indices suffered deeper cuts than the headline indices. For the midcap index, it was the worst week since May 2020.
IndexWeekly change (%)
Midcap 100-5.2
Smallcap 100-8

A total of 43 Nifty stocks finished the week below the flatline.

Bajaj Auto, Eicher and Divi's were among the few blue-chip gainers.
The road ahead
Given the volatility in the market, investors prefer defensive sectors such as IT and pharma supported by the weakening rupee. Going ahead, the major determinant for market direction would be the pace of decline in inflation in response to Fed measures," said Vinod Nair, Head of Research at Geojit Financial Services.
Here are the key factors and events that are likely to influence Dalal Street in the week beginning May 16:
GLOBAL CUES
DateUSEuropeAsia
May 16Fed official John Williams due to speakChina factory output data, China retail sales data
May 17Fed Chair Jerome Powell and officials James Bullard and Patrick Harker  to speak, retail sales data, factory output dataUK unemployment data, Eurozone GDP data, ECB President Christine Lagarde due to speak
May 18Fed officials Loretta Mester and Charles Evans to speak, crude oil stockpiles dataUK inflation data, ECB non-monetary policy meeting, Eurozone inflation dataJapan GDP data, Japan factory output data
May 19Patrick Harker due to speak, jobless claims dataEurozone construction outputHong Kong unemployment reading
May 20UK retail sales data, BoE Chief Economist Huw Pill due to speak, Eurozone consumer confidence dataJapan inflation data
DOMESTIC CUES
Official data on wholesale inflation in the country is due on Tuesday, May 17.
Earnings
On Monday, the market will react to the financial results of Tech Mahindra, Bank of Baroda and Eicher Motors, released after the closing bell on Friday.
Investors will track the last leg of the earnings season closely for direction. Here are a few noteworthy financial results due this week:
CompanyEarnings
Bharat Forge, VIP Industries, Century Plyboards, MCX, Nav Bharat Ventures, RaymondMay 16
Bharti Airtel, Indian Oil, DLF, Dr Lal, Zydus Wellness, EID Parry, GMR Infra, PI Industries, Abbot India, Bajaj Electrical, Bajaj Healthcare, Kajaria CeramicsMay 17
ITC, IGL, Lupin, Pidilite, Manappuram, Teamlease, Barbeque Nation, Granules, Indian Overseas BankMay 18
Godrej Consumer, Ashok Leyland, HPCL, V-Guard Industries, Bosch, Container Corporation, Dhanlaxmi BankMay 19
Indiabulls Housing Finance, IDFC, Indigo Paints, Amara Raja Batteries, Pfizer, Sobha, Narayana Hrudayalaya, ThermaxMay 20
IPO
State-run life insurer LIC's shares are all set to make a debut in the secondary market on May 17.
Three initial public offers (IPOs) will hit the Street during the week:
IPOSizeLaunch date
Paradeep PhosphatesRs 1,500 croreMay 17
EthosRs 472 croreMay 18
eMudhraRs 413 croreMay 20
FII activity
Institutional money flows will remain in the spotlight, as foreign investors remain net sellers and domestic investors net buyers of shares.
Last week, foreign institutional investors (FIIs) net sold Indian shares worth Rs 19,967.6 crore and domestic institutional investors (DIIs) made net purchases worth Rs 18,202.1 crore, according to provisional exchange data.
Corporate action
CompanyEx datePurposeRecord date
Great Eastern ShippingMay 17Interim dividend Rs 5.4May 18
Mindspace Business Parks REITMay 17Income distribution RITESMay 18
AvantelMay 18Final dividend Rs 4May 19
Garment Mantra LifestyleMay 18Stock split from Rs 10 to Re 1May 19
Jet Freight LogisticsMay 19Stock split from Rs 10 to Rs 5May 20
Sindhu Trade LinksMay 19Bonus issue 2:1May 21
Taneja Aerospace & AviationMay 19Interim dividendMay 21
Thinkink PicturezMay 19Interim dividend Re 0.1May 20
Kewal Kiran ClothingMay 20Interim dividend Rs 5May 23
La Tim Metal & IndustriesMay 20Stock split from Rs 10 to Re 1May 23
TrentMay 20Final dividend Re 1.1May 23
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