November Series Triggers: Factors that will drive actions on D-street next month

The Indian stock markets had a volatile week, especially the last two days of the trading sessions as the Nifty 50 and the S&P BSE Sensex lost more than 2 per cent each. FIIs selling pressure, IT sector, Reliance Industries and private banks dragged the market the most. The Nifty closed one per cent down to 17,671.65, a loss of 185.60 points or (1.04%), while, 30-share Sensex slipped 677.77 points or (1.13%) to settle at 59,306.93 on the last trading day of the week on monthly expiry.  

The Nifty Bank also slipped below 40, 000 as the banking index shed 351.30 points or 0.89% to close Friday at 39,157.65. The downward trigger was primarily led by RBL Bank, Kotak Bank and IndusInd Bank, which lost 2-9 per cent on Friday.  

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Talking about the correction in the domestic equity market, Vijay Dhanotiya, Lead Technical Research at CapitalVia Global Research, said it is important that the market sustains crucial levels.  

"We witnessed yet another day of correction in the market as the market failed to sustain above the support levels. It will be crucial for the short-term market scenario to sustain above the 17, 600 Nifty50 Index support zone. If the market is unable to sustain the level of 17600, we can witness lower levels of 17250-17300. The technical indicator suggests, a volatile movement in the market," said Vijay Dhanotiya.  

Meanwhile, as we enter the November series, there will be several factors that would be guiding the market next month. Let's look at the triggers that will drive action on Dalal Street in the coming month.  

Important Triggers for November Series  

November 1, 2021

Results:  

*Nifty: HDFC Ltd (12:30- 2:20pm), Tata Motors (post-market)  

*F&O: IRCTC (post-market)  

*NyKaa IPO will also close on this date  

*Policy Bazaar Rs 5,625 crore IPO to open for subscription  

*Besides, SJS Enterprises Rs 800 crore IPO, Sigachi Industries Rs 125 crore IPO and Texmaco Rail and Engineering rights issue will also open on November 1.  

November 2, 2021  

*Fino Payments Bank IPO to close on this date  

*DABUR Board meetings will be held on Q2 results and issuance of dividends.  

November 3, 2021  

*US FED to take a call on interest rates

*Policy Bazaar, SJS Enterprises, Sigachi Ind IPOs will close

*Board meeting on Precision Wires India share split  

*The World Health Organisation to take a call on emergency use of Indian covid vaccine Covaxin  

November 4, 2021  

*Muhurat Trading at 6 pm on the occasion of Diwali

November 5, 2021

*Indian markets to remain close on the next day of Diwali

November 8, 2021  

*Paytm with a price band of Rs 2080 to Rs 2150  to open  

*The United States to remove all restrictions on Fully vaccinated foreign nationals who want to go back to their country  

November 9, 2021  

*Rossell India to consider Voluntary Delisting  

November 10, 2021  

*Paytm IPO to close  

November 11, 2021  

*MSCI rebalancing announcement due on this date (post-market hours), effective from December 1  

*Likely listing of Nykaa shares on bourses; Price Band is Rs 1085 to Rs 1125 per equity share

November 12, 2021  

*Fino Payments Bank IPO likley listing; Price Band: Rs 560 to Rs 577 per equity share

*Asian Paints to increase prices of its products by 7 to 10%  

*September IIP and October CPI data will be released  

November 13, 2021  

*Board meeting to discuss IPCA LAB stock split. The decision will be made on splitting one share into two parts.

November 14, 2021

*T20 World Cup final will be held on this date

*Japan Q3 GDP figures will be also out on this day

November 15, 2021  

*Policy Bazaar Rs 5625 crore IPO likely to be listed on bourses  

*SJS Enterprises Rs 800 crore IPO likely listing  

*Sigachi Ind IPO likely listing

*SAIL, JSW Steel, Tata Steel to be in focus as some Chinese steel companies will resort to production cut  

*October WPI numbers will be out

*All foreign nationals will be allowed entry into the country in view of control in Covid cases

November 16, 2021  

*Board meeting on Welspun Steel and Welspun Corp demerger

November 17, 2021  

*Next hearing One-time spectrum charges in the Supreme Court.

November 18, 2021

*Likely listing of Paytm IPO on this day too

November 19, 2021

*Stock Market to remain close on account of Gurunanak Jayanti  

November 25, 2021

*November Series expiry  

*US stock markets to remain close on account of 'Thanksgiving Day'

(Disclaimer: The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)