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The Week Ahead: Inflation, IPO, macro data, among key factors that will guide Dalal Street investors

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Market participants will first react to IIP data in early trade on Monday. On the macroeconomic front, they will also be eyeing CPI inflation and WPI inflation on September 13 and September 14 respectively. Apart from these data points, global market updates and the pace of vaccination would be actively tracked.

The Week Ahead: Inflation, IPO, macro data, among key factors that will guide Dalal Street investors
The Indian equity market registered marginal gains in the holiday-shortened week ended September 9, witnessing consolidation after a sharp 3.5 percent surge seen in the previous week. Lack of fresh domestic triggers and subdued global cues resulted in a tepid action in the market.
The 30-share BSE Sensex rose 175.12 points to close at 58,305.07, and the 50-share benchmark index Nifty50 climbed 45.65 points to 17,369.25. However, the broader markets remained buoyant for the week, as the BSE Midcap and Smallcap indices jumped more than a percent each.
A mixed trend was seen on the sectoral front as pharma and banking ended with losses, while metal, FMCG, and telecom gained during the week gone by.
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“Nifty has been holding strong despite overbought positions however indications are in the favor of further consolidation or some profit-taking ahead,” said Ajit Mishra, VP Research. Religare Broking.
According to him, on the higher side, 17,500 would continue to act as a hurdle while 17,250-17,050 zone will provide support in case of any dip.
"We thus recommend maintaining extra caution and preferring hedged positions, especially for the leveraged trades. Among the sectors, we feel the performance of banking and auto would be critical as others have already been making a consistent contribution in the up move,” Mishra added.
Investors will focus on macroeconomic data, global cues and the pace of vaccination going ahead.
Here are key factors and events that Dalal Street investors will focus on in the upcoming week:
CPI/WPI Inflation
The Consumer Price Index (CPI) inflation data will be released on Monday, September 13, while the WPI inflation data is scheduled for Tuesday, September 14.
Economists expect the retail inflation to remain around 5.5 percent for August on the back of high global commodity prices.
Balance of Trade data, Forex reserves
The balance of trade data for August will be announced on Wednesday, September 15. The country’s foreign exchange reserves for the week ended September 10 will be released on Friday, September 17.
IPO
The Rs 1,283-crore initial public offering of auto-component maker Sansera Engineering will open for public subscription on September 14 and close on September 16.
The price band for the offer has been fixed at Rs 734-744 per equity share. The public issue is a complete offer for sale (OFS) of 1,72,44,328 equity shares by existing selling shareholders.
Listing
The shares of Vijaya Diagnostic Centre and Ami Organics will make their debuts on the stock exchanges on September 14, Tuesday.
Their public issues closed for subscription on September 3. The final prices for the offers are likely to be fixed at Rs 531 per equity share and Rs 610 per share, respectively.
The IPO of diagnostic chain Vijaya Diagnostic Centre was subscribed 4.54 times, while that of specialty chemical company Ami Organics saw 64.54 times subscription.
FII/DII Flow
The foreign institutional investors (FII) turned net sellers in the week gone by as they net sold shares worth Rs 1,113.88 crore in the Indian market.
The domestic institutional investors (DII) were net buyers during the week, to the tune of Rs 1,115.55 crore worth of shares.
Technical View
A reasonable positive candle was formed on the daily chart, which indicates a continuation of range-bound action in the market. There was no sharp weakness on the day of the weekly F&O expiry of Thursday and sustainable buying has emerged towards the end.
“This could signal chances of an upside bounce in the coming sessions,” said Nagaraj Shetti, Technical Research  Analyst, HDFC Securities.
Nifty on the weekly chart formed a small negative candle with minor upper and lower shadow on Thursday. Technically, Shetti believes this formation indicates a spinning top type candle pattern at the new highs.
He is of the view that the market could now shift into a broader high low range of around 17,600-17,200 levels by next week.
“The short-term trend of Nifty continues to be range-bound. Having recovered in the latter part of Thursday, there is a possibility of an upside bounce in the next early part of next week before encountering another resistance around 17,500-17,600 levels. Immediate support is placed at 17,200,” added Shetti.
Global Cues
United States:
  • Inflation for August on Tuesday, September 14.
  • MBA Mortgage Applications for the week ended September 10; Industrial Production for August on Wednesday, September 15.
  • Retail Sales for August; Initial Jobless Claims for the week ended September 11 on Thursday, September 16.
  • European Region
    • Industrial Production for July on Wednesday, September 15.
    • Inflation for August; Construction Output for July on Friday, September 17.
    • Japan
      • Industrial Production for July on Tuesday, September 14.
      • Machinery Orders for July on Wednesday, September 15.
      • China
        • Retail Sales & Industrial Production for August on Wednesday, September 15.
        • Corporate Actions:
          COMPANY NAMEPURPOSEEX-DATE
          TIPS IndustriesAGM/Dividend - Rs 2 Per Share13-Sep-21
          Fiem IndustriesAGM/Dividend - Rs 16 Per Share13-Sep-21
          Suryoday Small Finance BankAGM13-Sep-21
          Shah AlloysAGM13-Sep-21
          Manaksia Dividend - Rs 3 Per Share13-Sep-21
          Manaksia SteelsAGM13-Sep-21
          Sterling ToolsAGM/Dividend - Re 1 Per Share13-Sep-21
          J.Kumar InfraprojectsAGM/Dividend - Re 1 Per Share13-Sep-21
          MphasiSAGM/Dividend - Rs 38 Per Share/Special Dividend - Rs 27 Per Share13-Sep-21
          RattanIndia EnterprisesAGM13-Sep-21
          RattanIndia PowerAGM13-Sep-21
          S.A.L. SteelAGM13-Sep-21
          Nectar LifesciencesAGM13-Sep-21
          Quess CorpAGM13-Sep-21
          RBL BankAGM13-Sep-21
          Alps IndustriesAGM13-Sep-21
          Ganga Forging Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share13-Sep-21
          Honda India Power ProductsAGM/Dividend - Rs 10 Per Share13-Sep-21
          Dalmia Bharat Sugar and Industries Dividend - Rs 3 Per Sh13-Sep-21
          GATIAGM13-Sep-21
          GOVERNMENT OF INDIA Interest Payment13-Sep-21
          Donear IndustriesAGM/Dividend - Rs 0.20 Per Share13-Sep-21
          Bliss GVS PharmaAGM/Dividend - Rs 0.50 Per Share13-Sep-21
          Burnpur CementAGM13-Sep-21
          Central Depository Services (India)AGM/Dividend - Rs 9 Per Share13-Sep-21
          Tree House Education & AccessoriesAGM13-Sep-21
          Times GuarantyAGM14-Sep-21
          Hindustan CopperAGM/Dividend - Rs 0.35 Per Share14-Sep-21
          Taj GVK Hotels & ResortsAGM14-Sep-21
          Worth PeripheralsAGM/Dividend - Re 1 Per Share14-Sep-21
          ShrenikAGM14-Sep-21
          ITD Cementation IndiaAGM/Dividend - Rs 0.12 Per Share14-Sep-21
          Jamna Auto IndustriesAGM/Dividend - Rs 0.50 Per Share14-Sep-21
          Mahindra Lifespace Developers Bonus 2:114-Sep-21
          Maharashtra Seamless Dividend - Rs 3.50 Per Share14-Sep-21
          Jindal Drilling And Industries Dividend - Rs 0.50 Per Share14-Sep-21
          SuperhouseAGM/Dividend - Re 1 Per Share14-Sep-21
          Ndr Auto ComponentsAGM/Dividend - Re 1 Per Share14-Sep-21
          Apex Frozen FoodsAGM/Dividend - Rs 2 Per Share14-Sep-21
          Aries Agro Dividend - Rs 0.80 Per Share14-Sep-21
          Arvind SmartSpacesAGM14-Sep-21
          Dodla DairyAGM14-Sep-21
          Goa CarbonAGM14-Sep-21
          Oswal Chemicals & FertilizersAGM14-Sep-21
          Gujarat Sidhee CementAGM14-Sep-21
          Finolex IndustriesAGM/Dividend - Rs 2 Per Share/Special Dividend - Rs 2 Per Share14-Sep-21
          Tamil Nadu Newsprint & PapersAGM/Dividend - Rs 3 Per Share14-Sep-21
          Techno Electric & Engineering Company Dividend - Rs 4 Per Sh15-Sep-21
          HCL InfosystemsAGM15-Sep-21
          Windsor MachinesAGM/Dividend - Re 1 Per Share15-Sep-21
          West Coast Paper MillsAGM/Dividend - Re 1 Per Share15-Sep-21
          Zensar Technologies Dividend - Rs 2.40 Per Share15-Sep-21
          Universal CablesAGM/Dividend - Re 1 Per Share15-Sep-21
          Tanla PlatformsAGM/Dividend - Re 1 Per Share15-Sep-21
          Repco Home FinanceAGM/Dividend - Rs 2.50 Per Share15-Sep-21
          Lasa SupergenericsAGM/Dividend - Rs 0.25 Per Share15-Sep-21
          Infibeam AvenuesAGM/Dividend - Rs 0.05 Per Share15-Sep-21
          Shree Rama Multi-TechAGM15-Sep-21
          Shreyas Shipping & Logistics Dividend - Rs 2 Per Share15-Sep-21
          Jagran PrakashanAGM15-Sep-21
          Man InfraconstructionAGM15-Sep-21
          Marksans PharmaAGM/Dividend - Rs 0.25 Per Share15-Sep-21
          Max Ventures and IndustriesAGM15-Sep-21
          Meghmani FinechemAGM15-Sep-21
          Max Financial ServicesAGM15-Sep-21
          Parenteral Drugs (India)AGM15-Sep-21
          Meghmani OrganicsAGM/Dividend - Rs 1.40 Per Sh15-Sep-21
          Mukta ArtsAGM15-Sep-21
          Kuantum PapersAGM15-Sep-21
          Sandhar TechnologiesAGM/Dividend - Re 1 Per Share15-Sep-21
          Amrutanjan Health CareAGM/Dividend - Rs 2.60 Per Share15-Sep-21
          The Andhra Sugars Dividend - Rs 10 Per Share15-Sep-21
          The Andhra SugarsAGM15-Sep-21
          HSILAGM/Dividend - Rs 4 Per Share15-Sep-21
          De Nora IndiaAGM/Dividend - Re 1 Per Share15-Sep-21
          GOVERNMENT OF INDIA Interest Payment15-Sep-21
          Gujarat Industries Power Company Dividend - Rs 2.70 Per Share15-Sep-21
          Bharat BijleeAGM/Dividend - Rs 5 Per Share15-Sep-21
          eClerx ServicesAGM/Dividend - Re 1 Per Share15-Sep-21
          Bharat Heavy ElectricalsAGM15-Sep-21
          Birla CableAGM/Dividend - Re 1 Per Share15-Sep-21
          Gujarat Alkalies and ChemicalsAGM/Dividend - Rs 8 Per Share15-Sep-21
          Everest Kanto CylinderAGM/Dividend - Rs 0.30 Per Share15-Sep-21
          HBL Power Systems Dividend - Rs 0.35 Per Share15-Sep-21
          Hindustan Construction CompanyAGM15-Sep-21
          Vindhya TelelinksAGM/Dividend - Rs 10 Per Share15-Sep-21
          TREJHARA SOLUTIONSAGM16-Sep-21
          Vishwaraj Sugar IndustriesAGM/Dividend - Re 1 Per Share16-Sep-21
          WABCO India Dividend - Rs 11  Per Share16-Sep-21
          Wealth First Portfolio Managers Dividend - Re 1 Per Share16-Sep-21
          Suzlon EnergyAGM16-Sep-21
          Talbros Automotive ComponentsAGM/Dividend - Rs 2.00 Per Share16-Sep-21
          La Opala RGAGM/Dividend - Rs 1.50 Per Share16-Sep-21
          Oil IndiaAGM/Dividend - Rs 1.50 Per Share16-Sep-21
          Revathi EquipmentAGM16-Sep-21
          Ravi Kumar DistilleriesAGM16-Sep-21
          RKEC ProjectsAGM/Dividend - Rs 1.20 Per Share16-Sep-21
          Indraprastha Medical CorporationAGM16-Sep-21
          LIC Housing FinanceAGM/Dividend - Rs 8.50 Per Share16-Sep-21
          Somany Home InnovationAGM/Dividend - Rs 0.30 Per Share16-Sep-21
          Spacenet Enterprises IndiaAGM16-Sep-21
          Ircon InternationalAGM/Dividend - Rs 1.32 Per Share16-Sep-21
          Shivam AutotechAGM16-Sep-21
          Shradha InfraprojectsAGM16-Sep-21
          Shree Pushkar Chemicals & FertilisersAGM/Dividend - Re 1 Per Share16-Sep-21
          Magnum VenturesAGM16-Sep-21
          Mahamaya Steel IndustriesAGM16-Sep-21
          Manaksia Aluminium CompanyAGM16-Sep-21
          Manaksia Coated Metals & IndustriesAGM/Dividend - Rs 0.03 Per Share16-Sep-21
          Star Paper Mills Dividend - Rs 2.50 Per Share16-Sep-21
          Mawana Sugars Dividend - Rs 3 Per Share16-Sep-21
          Mawana SugarsAGM16-Sep-21
          Oriental TrimexAGM16-Sep-21
          Oswal Agro MillsAGM16-Sep-21
          Paisalo DigitalAGM/Dividend - Re 1 Per Share16-Sep-21
          Palred TechnologiesAGM16-Sep-21
          Panacea BiotecAGM16-Sep-21
          MIRC ElectronicsAGM16-Sep-21
          Petronet LNGAGM16-Sep-21
          Kaushalya Infrastructure Development CorporationAGM16-Sep-21
          Keerti Knowledge and SkillsAGM16-Sep-21
          Pearl Global IndustriesAGM16-Sep-21
          The Phoenix MillsAGM/Dividend - Re 1 Per Share16-Sep-21
          Pitti EngineeringAGM16-Sep-21
          Murudeshwar CeramicsAGM16-Sep-21
          NACL IndustriesAGM/Dividend - Rs 0.15 Per Share16-Sep-21
          Nagreeka ExportsAGM16-Sep-21
          Nahar Poly Films Dividend - Rs 1.50 Per Share16-Sep-21
          Poly MedicureAGM16-Sep-21
          Sakar HealthcareAGM16-Sep-21
          Neogen Chemicals Dividend - Rs 2.25 Per Share16-Sep-21
          Nila SpacesAGM16-Sep-21
          NitcoAGM16-Sep-21
          HOV ServicesAGM16-Sep-21
          APL Apollo Tubes Bonus 1:116-Sep-21
          Apollo Micro Systems Dividend - Rs 0.25 Per Share16-Sep-21
          ArchiesAGM16-Sep-21
          Aro Granite IndustriesAGM16-Sep-21
          Arvee Laboratories (India)AGM16-Sep-21
          Dhani ServicesAGM16-Sep-21
          Astron Paper & Board MillAGM16-Sep-21
          Ice Make RefrigerationAGM/Dividend - Rs 1.20 Per Share16-Sep-21
          ATN InternationalAGM16-Sep-21
          Aurionpro SolutionsAGM16-Sep-21
          Bal PharmaAGM/Dividend - Re 1 Per Share16-Sep-21
          GIC Housing FinanceAGM/Dividend - Rs 4 Per Share16-Sep-21
          Globus Spirits Dividend - Rs 2 Per Share16-Sep-21
          BLS International ServicesAGM/Dividend - Rs 0.25 Per Share16-Sep-21
          Bodal ChemicalsAGM/Dividend - Rs 0.80 Per Share16-Sep-21
          Bharat Petroleum CorporationAGM/Dividend - Rs 23 Per Share/Special Dividend - Rs 35 Per Share16-Sep-21
          Excel Realty N InfraAGM16-Sep-21
          Excel Industries Dividend - Rs 11.25 Per Share16-Sep-21
          Filatex IndiaAGM16-Sep-21
          ADF Foods Dividend - Rs 3 Per Share16-Sep-21
          ADF FoodsAGM16-Sep-21
          Ahluwalia Contracts (India)AGM16-Sep-21
          The Investment Trust Of IndiaAGM17-Sep-21
          AlankitAGM/Dividend - Rs 0.20 Per Share17-Sep-21
          NXTDIGITAL Dividend - Rs 4 Per Share17-Sep-21
          Olectra GreentechAGM17-Sep-21
          Indoco RemediesAGM/Dividend - Rs 1.50 Per Share17-Sep-21
          ShalbyAGM/Dividend - Re 1 Per Share17-Sep-21
          Iris ClothingsAGM17-Sep-21
          Simbhaoli SugarsAGM17-Sep-21
          Jay Bharat MarutiAGM/Dividend - Rs 1.25 Per Share17-Sep-21
          Mahanagar GasAGM/Dividend - Rs 14 Per Share17-Sep-21
          KDDLAGM/Dividend - Rs 1.50 Per Share17-Sep-21
          Mohit IndustriesAGM17-Sep-21
          MT EducareAGM17-Sep-21
          Mukand EngineersAGM17-Sep-21
          Nagarjuna Fertilizers and ChemicalsAGM17-Sep-21
          NCL IndustriesAGM/Dividend - Rs 1 Per Share17-Sep-21
          Ratnamani Metals & TubesAGM/Dividend - Rs 14 Per Share17-Sep-21
          Hindustan MotorsAGM17-Sep-21
          DELPHI WORLD MONEYAGM17-Sep-21
          20 MicronsAGM17-Sep-21
          DRC Systems IndiaAGM17-Sep-21
          Goldstone TechnologiesAGM17-Sep-21
          Bigbloc ConstructionAGM/Dividend - Rs 0.25 Per Share17-Sep-21
          Biofil Chemicals & PharmaceuticalsAGM17-Sep-21
          Ester IndustriesAGM/Dividend - Rs 1.90 Per Share17-Sep-21
          Eurotex Industries and ExportsAGM17-Sep-21
          CESC Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share17-Sep-21
          Federal-Mogul Goetze (India) .AGM17-Sep-21
          Ajooni BiotechAGM17-Sep-21
          Tirupati ForgeAGM17-Sep-21