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The Week Ahead: Macro data, FII flow, global cues likely to impact market

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Most analysts expect the market to move sideways in the holiday-truncated week. The Indian financial market will remain shut on Friday, November 19 for Gurunanak Jayanti.

The Week Ahead: Macro data, FII flow, global cues likely to impact market
Macroeconomic data, foreign institutional investor flow and global cues are likely to be in focus on Dalal Street in the holiday-truncated week starting November 15. The market will remain shut on Friday for the Gurunanak Jayanti holiday. Activity in the primary market will also be in the spotlight, days after Paytm's IPO -- the biggest of all time in the country -- received lukewarm response.
Equity benchmarks Sensex and Nifty50 have each climbed up more than one percent for a second straight week. The Nifty50 added 186 points to reclaim the 18,100 mark in the trading week ended November 12, and the 30-scrip Sensex gained 619.1 points to top 60,650.
Dalal Street week ahead
The headline indices are expected to move sideways given most of the quarterly earnings and the festive mood is now behind, according to Yesha Shah, Head of Equity Research at Samco Securities.
"As markets across the world are trying to decode the implications of rising inflation, any intensive selling by FIIs may pull Indian indices lower, unless the domestic players provide support... Amidst worsening inflation fears, investors are currently advised to use knee-jerk reactions to, at best, cherry pick quality stocks in resilient sectors and invest in a staggered manner," she said.
Foreign fund flow will be monitored closely. Foreign institutional investors continue to be bearish on Indian equities after a bullish phase that lasted for much of this year.
Technical outlook
Short-term support for the Nifty has shifted from 17,850 to 18,000, according to Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities.
"For the trend-following traders 18,000 would be the sacrosanct level. As long as the index is trading above 18,000, the uptrend wave will continue up to 18,200-18,400. On the other hand, a close below 18,000 could increase further weakness till 17,850-17,650 levels," he said.
Here are the key factors and events that are likely to influence Dalal Street in the week starting November 15:
DOMESTIC CUES
Macroeconomic data
Official data on wholesale inflation is due on Monday. Separate data after market hours on Friday showed consumer inflation in the country accelerated to 4.48 percent in October, exceeding Street expectations, from 4.35 percent in the previous month. Economists in a CNBC-TV18 poll had expected inflation at 4.21 percent lat month. The RBI tracks consumer prices primarily to devise its monetary policy.
Monthly trade data will be released on Monday. Auto industry body SIAM is also due to release its report on the same day.
IPO market
Life sciences company Tarsons Products is due to launch its IPO on Monday, and legwear manufacturer GoColurs on Wednesday.
FII flow
FIIs were net sellers of Indian shares to the tune of Rs 949 crore in the first half of November, according to provisional exchange data. In the previous month, they net offloaded Indian equities worth Rs 12,437 crore.
Corporate action
Security nameEx datePurposeRecord date
Bigbloc Construction15-Nov-21Stock Split From Rs 10 to Rs 216-Nov-21
Gillette India15-Nov-21Final dividend Rs 36-
NCL Research & Financial Services15-Nov-21EGM-
Shine Fashions (India)15-Nov-21Stock split from Rs 10 to Rs 516-Nov-21
SMC Global Securities15-Nov-21Interim dividend Rs 1.216-Nov-21
Tata Steel BSL15-Nov-21Amalgamation16-Nov-21
Amrutanjan Health Care16-Nov-21Interim dividend Rs  117-Nov-21
Brookfield India Real Estate Trust REIT16-Nov-21Income distribution RITES17-Nov-21
Gulshan Polyols16-Nov-21Interim dividend Rs 117-Nov-21
Medico Remedies16-Nov-21Bonus issue 3:117-Nov-21
Nahar Capital & Financial Services16-Nov-21Interim dividend Rs 1.517-Nov-21
Nahar Spinning Mills16-Nov-21Interim dividend Rs 1.517-Nov-21
Tower Infrastructure Trust16-Nov-21Income distribution (InvIT)17-Nov-21
Man Infraconstruction17-Nov-21Bonus issue 1:219-Nov-21
Aartech Solonics17-Nov-21Bonus issue 1:219-Nov-21
Anupam Rasayan India17-Nov-21Interim dividend Rs 0.518-Nov-21
Astral17-Nov-21Interim dividend Rs 1.2519-Nov-21
Aurobindo Pharma17-Nov-21Interim dividend Rs 1.518-Nov-21
Balkrishna Industries17-Nov-21Interim dividend Rs 419-Nov-21
Balu Forge Industries17-Nov-21Interim dividend Rs 0.118-Nov-21
EID Parry (India)17-Nov-21Interim dividend Rs 5.518-Nov-21
EPL17-Nov-21Interim dividend - Rs 2.1519-Nov-21
ESAB India17-Nov-21Interim dividend Rs 2219-Nov-21
Gujarat Mineral Development Corp17-Nov-21Final dividend Rs 0.2-
Jonjua Overseas17-Nov-21EGM-
Kreon Financial Services17-Nov-21EGM-
Laurus Labs17-Nov-21Interim dividend Rs 0.818-Nov-21
Mindspace Business Parks REIT17-Nov-21Income distribution RITES18-Nov-21
MRF17-Nov-21Interim dividend Rs 319-Nov-21
Page Industries17-Nov-21Interim dividend Rs 15020-Nov-21
Petronet LNG17-Nov-21Special dividend Rs 719-Nov-21
Pitti Engineering17-Nov-21Interim dividend Rs 0.418-Nov-21
QGO Finance17-Nov-21Interim dividend Rs 0.118-Nov-21
Saksoft17-Nov-21Interim dividend Rs 319-Nov-21
Shyam Metalics and Energy17-Nov-21Interim dividend Rs 2.2519-Nov-21
Suumaya Corporation17-Nov-21Bonus issue 2:119-Nov-21
Vidhi Specialty Food Ingredients17-Nov-21Interim dividend - Rs 0.420-Nov-21
Easy Trip Planners18-Nov-21Interim dividend - Rs. - 1.000022-Nov-21
Majestic Auto18-Nov-21Final dividend Rs 7.5-
Panchsheel Organics18-Nov-21EGM-
Steel Strips Wheels18-Nov-21Stock split from Rs 10 to Rs 522-Nov-21
GLOBAL CUES
United States
A number of speeches by Federal Reserve officials are due this week, which will be tracked closely by investors around the globe for more clues on interest rates and monetary policy going forward.
Asia 
Japan will release its quarterly GDP numbers on Monday.
China's industrial production and industrial production data are due on the same day.
On Wednesday, data on trade and inflation in Japan will be out.
Europe
On Tuesday, the United Kingdom is slated to release its unemployment data. On Wednesday, data on inflation in the country is due. and on Friday, numbers on consumer confidence and retail sales.
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