The Indian market has ended the September series on a strong note on the basis of global cues. Now the new series has started, and the market will focus on several domestic and global triggers. Sales figures for the month of September of auto companies are about to be released. Business updates for the second quarter and after that the results of the companies are going to come. Along with this, the market will also keep an eye on the action of the primary market and the data of institutional investors.
Last week, there was a rise in Indian markets after the US Federal Reserve cut interest rates by 50 basis points. Banking, financial, auto and real estate sectors were active, while metal and power sectors also looked strong. However, there was some pressure on IT and export related stocks. Expectations of a rally in Indian IT stocks have increased after Accenture’s results.
What will be the major triggers for the market this week:
1. Signals from the global market
Last week, China’s central bank PBoC had announced a cut in interest rates, and the government there had also announced an economic relief package. After this, there was a boom in the markets of China and Hong Kong, and an increase in commodity prices was also recorded. Next week also, the market will keep an eye on global markets and macroeconomic conditions. A bullish trend is also being seen in the American markets.
2. Crude Oil Prices
There was a rise in the prices of crude oil in the international markets on Friday, but there remained pressure on them on a weekly basis. The price of Brent crude oil stood at $ 71.89 per barrel and WTI crude oil at $ 68.18 per barrel.
3. Statistics of FIIs and DIIs
In the month of September, foreign institutional investors (FIIs) made net purchases of ₹22,403.72 crore in the cash market, while domestic institutional investors (DIIs) made net purchases of ₹24,211.50 crore.
4. Corporate Action
Corporate action may be seen in many stocks next week. The ex-dividend date of ADS Diagnostics, Accelya Solutions and KPI Green Energy is 30 September. Apart from this, ex-split and ex-bonus dates of some stocks are also next week.
5. Action in Primary Market
Subscription for Hyundai Motor IPO and Afcons Infrastructure IPO in the mainboard segment is going to open soon. Hyundai Motors’ IPO will act as a big event in the primary market. Diffusion Engineers IPO is open till Monday. Three new IPOs in the SME segment will open for subscription, while six issues are already open.
6. Listing
Manba Finance shares will be listed on NSE and BSE on Monday, while KRN Heat Exchanger will be listed on October 3. Shares of Diffusion Engineers will be listed on October 4.