Stock Markets Next Week: From Latent View IPO listing to US Q3 GDP numbers -11 triggers that could impact movement

While the Q2FY22 earnings season is now behind us, the stock markets are not devoid of triggers. Notwithstanding a poor show this week, markets could see a turnaround with certain events scheduled over the coming week.

The stock markets ended in the red on Thursday and fell on three consecutive occasions during this truncated trading week. The BSE Sensex ended at 59,636.01, down by almost 0.6 per cent or 372 points from the Wednesday closing level. Meanwhile, the 50-share Nifty50 ended down 113 points or 0.7 per cent at 17,764.80. 

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Over the weak Sensex lost by 1.75 per cent while the Nifty50 lost 2 per cent. Bank Nifty also ended below the 38,000 level, losing as much as 2 per cent during the week. 

Foreign Institutional Investors (FIIs) sold Indian equities worth Rs cr in the cash market while the Domestic Institutional Investors (DIIs) sold equities worth Rs 1885 cr. 

Triggers Next Week

1) 22 November – Monday: The Initial Public Offering (IPO) issue of Go Fashion (India) will close on Monday. The IPO price band is at Rs 655-690 per equity share.

2) For Indian travelers planning to travel to UK, Covaxin will be included in the list of approved vaccines in the country.

3) 23 November – Tuesday: Listing of shares of Latent View IPO. The price band was at Rs 190-197.

4) Japanese markets to remain closed on this day.

5) 24 December – Wednesday - Rights issue to open for The Indian Hotels Company Limited. IHCL is planning to raise Rs 1982 cr through it.

6) US Q3 GDP numbers are also expected to be declared on this day.

7) 25 November – Thursday: It will be a monthly and weekly expiry day for November series.

8) Investors must keep an eye on MTNL where a voting on changes to the Article of Association (AoA) is expected to take place.

9) US markets will remain closed on account of Thanks Giving day. It will be open for some time.

26 November – Friday: Investors must keep an eye on Mangalore Refinery and Petrochemicals Limited (MRPL) as a board meeting to happen for merger with ONGC.

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11) On this day, a Rs 46 cr buyback of Goldiam International to begin which will end on 9 December. The price per equity share is set at Rs 1200.