The Week Ahead: Key events that will guide traders at Dalal Street this week

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This week is a holiday-shortened one and global cues and earnings announcements will continue to dictate the trend. Besides, COVID-related updates and the progress of the monsoon will remain the focus.

The Week Ahead: Key events that will guide traders at Dalal Street this week
The Indian equity market snapped two weeks of losses to end higher last week, bucking the global trend. Both the benchmark indices, Sensex and Nifty gained around 1.5 percent each in the week gone by amid broad-based buying across key sectors with banking, IT, and metal leading.
Broader markets also continued their stellar performance with the midcap and smallcap indices ending higher in the range of 1.4-2.3 percent, respectively.
"Markets resumed the uptrend and ended on a positive note, after spending nearly one and a half months in a range. Upbeat global sentiment finally ended the nervousness which was further boosted with the beginning of the earnings season and supportive macroeconomic data," said Ajit Mishra, VP Research, Religare Broking.
The coming week is a holiday-shortened one and global cues and earnings announcements will continue to dictate the trend. Besides, COVID-related updates and the progress of the monsoon will remain the focus.
"Indications are in favor of a steady uptrend and we expect Nifty to trade within the 15,750-16,150 range. We reiterate our view that the performance of the banking pack would play a critical role in index regain momentum else the rise could be gradual. Since all the sectors are participating in the move, traders should maintain their focus on stock selection and continue with the “buy on dips” approach,” Mishra added.
On the technical front, Nifty made an attempt to hold the support level of 15,900 and a display of strength above 15,960 could only open the next upside levels of 16,100-16,200 in the short term. Any weakness below 15,850 is likely to trigger a broad-based downward correction in the market.
"While sustaining above 15,900 is the key factor from a short-term perspective, maintaining above this level is important for the market to gain momentum and extend the rally until 16,200. The momentum indicators like RSI and MACD to stay positive and market breadth to improve, further strengthening a short-term bullish outlook,” said Ashis Biswas, Head of Technical Research at CapitalVia Global Research.
Here are key factors that will guide the traders this week:
Earnings
ACC, HCL Technologies, HDFC Life Insurance Company, Bajaj Finance, Bajaj Finserv, Bajaj Auto, Hindustan Unilever, UltraTech Cement, Ambuja Cements, JSW Steel, Reliance Industries, ICICI Bank, ITC, Asian Paints, ICICI Prudential Life Insurance Company, among other will declare their results next week.
Also, Indian Bank, Ceat, Gland Pharma, Havells India, Jubilant FoodWorks, Biocon, Hindustan Zinc, ICICI Lombard General Insurance Company, SBI Cards and Payment Services, United Spirits, Yes Bank, MCX India, among others will declare results in the coming week.
IPO
The initial public offering (IPO) of specialty chemical company Tatva Chintan Pharma Chem will remain open for two more days in the coming week. The Rs 500-crore IPO of the company has received a subscription of 4.5 times on the first day of bidding on July 16. The issue will close on July 20.
Listing
The shares of GR Infraprojects and specialty chemical company Clean Science & Technology will debut on the bourses on Monday, July 19. The public issue to GR Infraprojects and Clean Science, during July 7-9, were subscribed 102.58 times and 93.41 times, respectively.
Zomato Allotment
The IPO share allotment of Zomato is expected to take place in later part of the next week around July 22. The Rs 9,375-crore public issue of online food delivery giant was subscribed 38.25 times during July 14-16.
Global events:
United States
  • Housing Starts, Building Permits for June on July 20, Tuesday.
  • MBA Mortgage Applications for week ended July 16 on July 21, Wednesday.
  • Initial Jobless Claims for week ended July 17, Existing Home Sales for June on July 22, Thursday.
  • Markit Manufacturing Composite Services PMI Flash for July on July 23, Friday.
  • European Region
    • ECB Interest Rate Decision on July 22, Thursday.
    • Markit Manufacturing Composite Services PMI Flash for July on July 23, Friday.
    • Japan
      • Inflation for June on July 20, Tuesday.
      • Bank of Japan Monetary Policy Meeting Minutes on July 21, Wednesday.
      • Corporate Action
        COMPANY NAMEPURPOSEEX-DATE
        NIIT Dividend - Rs 2.50 Per Share19-Jul-21
        HEGAGM/Dividend - Rs 3 Per Share19-Jul-21
        Tide Water Oil Company (India) Dividend - Rs 200 Per Share19-Jul-21
        Siyaram Silk MillsAGM/Dividend - Rs 4.60 Per Share19-Jul-21
        IVPAGM/Dividend - Re 1 Per Share19-Jul-21
        Oriental HotelsAGM19-Jul-21
        GlaxoSmithKline PharmaceuticalsAGM/Dividend - Rs 30 Per Share19-Jul-21
        Alembic PharmaceuticalsAGM/Dividend - Rs 14 Per Share19-Jul-21
        Grindwell NortonAGM/Dividend - Rs 9.50 Per Share19-Jul-21
        Prakash IndustriesAGM19-Jul-21
        KEC International Dividend - Rs 4 Per Share19-Jul-21
        L&T Finance HoldingsAGM19-Jul-21
        Abbott IndiaAGM/Dividend - Rs 120 Per Share Special Dividend 155 Per Share19-Jul-21
        Banaras BeadsAGM19-Jul-21
        Geojit Financial ServicesAGM/Dividend - Rs 2 Per Share19-Jul-21
        Mahindra Logistics Dividend - Rs 2.50 Per Share19-Jul-21
        Dollar IndustriesAGM/Dividend - Rs 2.40 Per Share19-Jul-21
        UTI Asset Management Company Dividend - Rs 17 Per Share19-Jul-21
        Jyothy LabsAGM/Dividend - Rs  4 Per Share20-Jul-21
        TCI ExpressAGM/Dividend - Rs 2 Per Share20-Jul-21
        The Great Eastern Shipping CompanyAGM/Dividend - Rs 9 Per Share20-Jul-21
        Blue Dart ExpressAGM/Dividend - Rs 15 Per Share20-Jul-21
        Kothari PetrochemicalsAGM20-Jul-21
        Firstsource SolutionsAGM20-Jul-21
        Shriram City Union FinanceAGM/Dividend - Rs 13 Per Share20-Jul-21
        TCI DevelopersAGM20-Jul-21
        Indian Metals & Ferro AlloysAGM/Dividend - Rs 7 Per Share20-Jul-21
        Deepak NitriteAGM/Dividend - Rs 4.50 Per Share/ Special Dividend - Re 1 Per Share20-Jul-21
        SML IsuzuAGM20-Jul-21
        EIHAGM20-Jul-21
        Colgate Palmolive (India)AGM20-Jul-21
        Butterfly Gandhimathi AppliancesAGM20-Jul-21
        Sharda Cropchem Dividend - Rs 3 Per Share20-Jul-21
        Intellect Design ArenaAGM20-Jul-21
        Tera SoftwareAGM20-Jul-21
        Dr. Lal Path Labs Ltd.AGM/Dividend - Rs 8 Per Share20-Jul-21
        Hitech Corporation Dividend - Re 1 Per Share20-Jul-21
        Orient ElectricAGM/Dividend - Rs 1.25 Per Share20-Jul-21
        Shoppers StopAGM20-Jul-21
        Titan CompanyAGM/Dividend - Rs 4 Per Share22-Jul-21
        Tata Steel Long ProductsAGM/Dividend - Rs 5 Per Share22-Jul-21
        ICRA Dividend - Rs 27 Per Share22-Jul-21
        Lyka LabsAGM22-Jul-21
        Aditya Birla MoneyAGM22-Jul-21
        Blue Star Dividend - Rs 4 Per Share22-Jul-21
        Carborundum UniversalAGM/Dividend - Rs 1.50 Per Share22-Jul-21
        Venky's (India) Dividend - Rs 17 Per Share22-Jul-21
        Tata MetaliksAGM/Dividend - Rs 4 Per Share22-Jul-21
        Kabra Extrusion TechnikAGM/Dividend - Rs 2.50 Per Share22-Jul-21
        Thermax Dividend - Rs 7 Per Share22-Jul-21
        Eimco Elecon (India)AGM/Dividend - Rs 5 Per Share22-Jul-21
        Heritage FoodsAGMdividend - Rs 5 Per Share22-Jul-21
        BASF IndiaAGM/Dividend - Rs 5 Per Share/Special Dividend - Rs 5 Per Share22-Jul-21
        Kothari Sugars And ChemicalsAGM22-Jul-21
        Quintegra SolutionsAGM22-Jul-21
        RaymondAGM22-Jul-21
        Unichem LaboratoriesAGM/Dividend - Rs 4 Per Share22-Jul-21
        Elecon Engineering CompanyAGM/Dividend - Rs 0.40 Per Share22-Jul-21
        Astec LifeSciencesAGM/Dividend - Rs 1.50  Per Share22-Jul-21
        Gangotri TextilesAGM22-Jul-21
        Cholamandalam Investment and Finance CompanyAGM/Dividend - Rs 0.70 Per Share22-Jul-21
        Hero MotoCorpAGM/Dividend - Rs 25 Per Share/ Special Dividend - Rs 10 Per Share22-Jul-21
        Morarjee TextilesAGM22-Jul-21
        HILAGM/Dividend - Rs 25 Per Share22-Jul-21
        Indiabulls Housing FinanceAGM22-Jul-21
        Agri-Tech (India)AGM22-Jul-21
        Hatsun Agro Product Interim Dividend22-Jul-21
        Techindia NirmanAGM22-Jul-21
        PDS Multinational FashionsAGM/Dividend - Rs 15.75 Per Share22-Jul-21
        Menon BearingsAGM22-Jul-21
        Bhageria IndustriesAGM/Dividend - Rs 3.50 Per Share22-Jul-21
        Mtar TechnologiesAGM/Dividend - Rs 3 Per Share22-Jul-21
        Sumitomo Chemical India Dividend - Rs 0.80 Per Share22-Jul-21
        SHREE CEMENT Dividend - Rs 60 Per Share22-Jul-21
        Elgi EquipmentsAGM/Dividend - Rs 0.80 Per Share23-Jul-21
        WockhardtAGM23-Jul-21
        Karur Vysya BankAGM/Dividend - Rs 0.50 Per Share23-Jul-21
        Tech MahindraAGM/Dividend - Rs 15 Per Share Special Dividend 15 Per Share23-Jul-21
        Angel Broking Interim Dividend23-Jul-21
        GOVERNMENT OF INDIA Interest Payment23-Jul-21
        GOVERNMENT OF INDIA Interest Payment23-Jul-21
        Shankara Building ProductsAGM23-Jul-21
        Patel Integrated LogisticsAGM/Dividend - Rs 0.10 Per Share23-Jul-21

        Market Movers

        CompanyPriceChng%Chng
        Maruti Suzuki6,993.50 -171.55 -2.39
        Power Grid Corp167.40 -3.68 -2.15
        ITC206.05 -3.05 -1.46
        Bajaj Auto3,763.75 -54.75 -1.43
        Coal India142.15 -1.90 -1.32
        CompanyPriceChng%Chng
        Maruti Suzuki6,991.90 -158.30 -2.21
        Power Grid Corp167.40 -3.65 -2.13
        Bajaj Auto3,762.80 -57.70 -1.51
        ITC206.00 -3.15 -1.51
        Dr Reddys Labs4,671.05 -59.15 -1.25
        CompanyPriceChng%Chng
        Maruti Suzuki6,993.50 -171.55 -2.39
        Power Grid Corp167.40 -3.68 -2.15
        ITC206.05 -3.05 -1.46
        Bajaj Auto3,763.75 -54.75 -1.43
        Coal India142.15 -1.90 -1.32
        CompanyPriceChng%Chng
        Maruti Suzuki6,991.90 -158.30 -2.21
        Power Grid Corp167.40 -3.65 -2.13
        Bajaj Auto3,762.80 -57.70 -1.51
        ITC206.00 -3.15 -1.51
        Dr Reddys Labs4,671.05 -59.15 -1.25

        Currency

        CompanyPriceChng%Chng
        Dollar-Rupee74.2850-0.0900-0.12
        Euro-Rupee88.25500.04400.05
        Pound-Rupee103.70500.17900.17
        Rupee-100 Yen0.67830.00170.26