Domestic macroeconomic data, global cues and the last leg of corporate earnings will be in focus on Dalal Street this week. Institutional fund flows and updates on the coronavirus pandemic also be on investors' radar.
Last week, Indian equity benchmarks dropped 0.8 percent dragged by broad-based selling except metal stocks. Investors cheered a dovish RBI but fears of more aggressive rate hikes by the Fed amid decades-high inflation sent jitters across global markets that found their way to Dalal Street. (Read more on the week gone by)
The week ahead
Ajit Mishra, VP Research at Religare Broking feels the prevailing tussle between the bulls and the bears in the market will end soon.
"The market has been consolidating for the last four months and still not offering any cue over the next directional move. Global cues in the form of inflation concerns and Russia-Ukraine tensions are currently weighing on the sentiment. However, favourable domestic factors like a pro-growth Budget and a dovish RBI have been capping the damage so far," he said.
The 50-scrip index is contained in a range of 17,050-17,800, having failed to sustain above its 20-day moving average, according to Yesha Shah, Head of Equity Research, Samco Securities. "A decisive break from this range is likely to set the next course of action. Most global indices are exhibiting a bearish undertone," she said.
The market is largely expected to remain volatile and rangebound. Investors should sit tight on to their quality investments and avoid aggressive bets until a clear direction is established, said Shah, who suggests traders to maintain a neutral outlook and create longs only on dips or around immediate support levels.
Religare Broking's Mishra expects levels of 16,800-17,000 to remain a critical support zone for the Nifty, and resistance around 17,650-17,800.
Here are the key factors and events that are likely to influence Dalal Street in the week starting February 14:
Data on wholesale inflation and consumer inflation in the country are due on Monday.
Monthly data on the automobile sector by industyr body SIAM is also due on the same day.
|February 12||DB Realty, Ashoka Buildcon, Atul, Thyrocare|
|February 13||Ruchi Soya|
|February 14||Adani Enterprises, SpiceJet, Rajesh Exports, Future Retail, Coffee Day Enterprises, Ipca Labs|
Updates on the proposed mega initial share sale of state-run LIC will be tracked closely.
The listing of Vedant Fashions shares on stock exchanges BSE and NSE is likely on February 16.
Foreign fund flows will remain in focus. Last week, foreign institutional investors net sold Indian equities worth Rs 6,453.8 crore ($862.9 million), according to provisional exchange data.
|Company||Ex eate||Purpose||Record date|
|Coromandel International||Feb 14||Interim dividend Rs 6||Feb 15|
|Data Infrastructure Trust||Feb 14||Income distribution (InvIT)||Feb 15|
|ITC||Feb 14||Interim dividend Rs 5.25||Feb 15|
|PI Industries||Feb 14||Interim dividend Rs 3||Feb 15|
|Precision Wires||Feb 14||Interim dividend Re 0.45||Feb 15|
|Premco Global||Feb 14||Interim dividend Rs 5||Feb 15|
|QGO Finance||Feb 14||Interim dividend Re 0.10||Feb 15|
|Shanthi Gears||Feb 14||Interim dividend Rs 2.5||Feb 15|
|Aarti Industries||Feb 15||Interim dividend Re 1||Feb 16|
|AK Capital Services||Feb 15||Interim dividend Rs 5||Feb 16|
|Bhatia Communications & Retail (India)||Feb 15||Stock split from Rs 10 to Re 1||Feb 16|
|Dalmia Bharat Sugar and Industries||Feb 15||Interim dividend Rs 3||Feb 16|
|Danube Industries||Feb 15||Stock split from Rs 10 to Rs 2||Feb 16|
|IOL Chemicals & Pharma||Feb 15||Interim dividend Rs 4||Feb 16|
|CE Info Systems||Feb 15||Interim dividend Rs 2||Feb 16|
|Minda Corporation||Feb 15||Interim dividend Re 0.3||Feb 16|
|Mindspace Business Parks REIT||Feb 15||Income distribution RITES||Feb 16|
|REC||Feb 15||Interim dividend Rs 6||Feb 16|
|Suven Pharmaceuticals||Feb 15||Interim dividend Re 1||Feb 16|
|Suven Pharmaceuticals||Feb 15||Special dividend Rs 2||Feb 16|
|AVT Natural Products||Feb 16||Interim dividend Re 0.4||Feb 17|
|BCL Enterprises||Feb 16||EGM||-|
|Engineers India||Feb 16||Interim dividend Rs 2||Feb 17|
|Minda Industries||Feb 16||Interim dividend Re 0.5||Feb 17|
|PowerGrid||Feb 16||Interim dividend Re 5.5||Feb 17|
|Aegis Logistics||Feb 17||Interim dividend Rs 2||Feb 18|
|Anupam Finserv||Feb 17||Bonus issue 1:10||Feb 18|
|Computer Age Management Services||Feb 17||Interim dividend Rs 10.75||Feb 18|
|ESAB||Feb 17||Interim dividend Rs 18||Feb 18|
|FDC||Feb 17||Share buyback||Feb 19|
|Firstsoure||Feb 17||Interim dividend Rs 3.5||Feb 18|
|Goldiam International||Feb 17||Interim dividend Rs 3||Feb 18|
|Granules||Feb 17||Interim dividend Re 0.25||Feb 18|
|Hindustan Aeronautics||Feb 17||Interim dividend Rs 26||Feb 18|
|IRCTC||Feb 17||Interim dividend Rs 2||Feb 18|
|iStreet Network||Feb 17||EGM||-|
|JM Financial||Feb 17||Interim dividend Re 0.5||Feb 18|
|KPR Mill||Feb 17||Share buyback||Feb 19|
|Mahanagar Gas||Feb 17||Interim dividend Rs 9.5||Feb 18|
|MRF||Feb 17||Interim dividend Rs 3||Feb 18|
|Nalco||Feb 17||Interim dividend Rs 3||Feb 18|
|NIRLON||Feb 17||Interim dividend Rs 15||Feb 18|
|NMDC||Feb 17||Interim dividend Rs 5.73||Feb 18|
|PAGE INDUSTRIES||Feb 17||Interim dividend Rs 1||Feb 18|
|Renaissance Global||Feb 17||Interim dividend Rs 5.5||Feb 18|
|Selan Exploration Tech||Feb 17||Interim dividend Rs 5||Feb 19|
|Sukhjit Starch & Chem||Feb 17||Interim dividend Rs 10||Feb 18|
|Sundaram Finance||Feb 17||Interim dividend Rs 10||Feb 18|
|Sun TV Network||Feb 17||Interim dividend Rs 2.5||Feb 18|
|Tube Investments of India||Feb 17||Interim dividend Rs 2||Feb 18|
|Tilak Ventures||Feb 17||Right issue||Feb 18|
|United Drilling Tools||Feb 17||Interim dividend Re 0.9||Feb 19|
|VR Films & Studios||Feb 17||Interim dividend Re 1||Feb 18|
|Abhinav Leasing & Finance||Feb 18||EGM||-|
|Amrutanjan Health care||Feb 18||Interim dividend Re 1||Feb 21|
|Aurobindo Pharma||Feb 18||Interim dividend Re 1.5||Feb 21|
|Brookfield India Real Estate Trust REIT||Feb 18||Income distribution RITES||Feb 21|
|Gulf Oil Lubricants India||Feb 18||Share buyback||Feb 21|
|MAAN Aluminium||Feb 18||Interim dividend||Feb 21|
|Pitti Engineering||Feb 18||Interim dividend Re 0.4||Feb 21|
|Shyam Metalics and Energy||Feb 18||Interim dividend Rs 2.25||Feb 21|
|Talbros Automobive Components||Feb 18||Interim dividend Re 1||Feb 21|
|Feb 15||UK unemployment rate||Japan GDP|
|Feb 16||Retail sales, IIP, crude stockpiles||UK inflation||Japan IIP, China inflation|
|Feb 17||Minutes of last FOMC meeting|
|Feb 18||Home sales, Fed official speeches||UK retail sales||Japan inflation|
|Feb 19||Fed official speech|
First Published: IST