Dalal Street Week Ahead: Macro data, earnings, FII activity, US polls, Fed decision, other things to track

Share Market News, Nifty 50, Sensex, Stock Market News: Domestic equity benchmarks clocked a gain of about half a percentage point during the trading week from October 28 to November 1 that ended with a special trading session on Friday. As market participants await a fresh trading week on Dalal Street, a few key factors will be in focus including macroeconomic data, corporate earnings and institutional investor activity. 

Last week, the Nifty50 gained 123.6 points to settle at 24,304.4, though still almost 2,000 points below its all-time high of late September. Barring IT and select consumer durable stocks, all sectors enjoyed gains, with PSU banking stocks being at the forefront of the rally reflected in a 7.9 per cent surge in the Nifty PSU Bank. 

DOMESTIC CUES 

Earnings

More than 450 companies are scheduled to report their financial results this week, including SBI, LIC, Tata Motors, Tata Steel, Mahindra & Mahindra, Oil India, GAIL, IRCTC, Lupin and MRF.  

Macroeconomic data

Separate private PMI survey readings for manufacturing and services activities in the country are due for release at 10:30 am each on Monday and Tuesday respectively. 

Institutional flows

Institutional activity will continue to be in the spotlight on Dalal Street with domestic funds rapidly filling much of a gap created by sustained selling by foreign institutions over the past few weeks. 

Foreign institutional investors (FIIs) net sold Indian shares amounting to Rs 1,14,446 crore in October while domestic institutional investors (DIIs) made net purchases of Rs 1,07,255 crore, according to provisional exchange data. 

GLOBAL CUES

One of the major events to track this week globally will be the outcome of the 2024 US Presidential election due on November 5.

Here are some of the other important cues to track during the course of the week: 

• Monday: France and Germany manufacturing data, US factory orders data
• Tuesday: China services data, UK services data, US trade data
• Wednesday: Japan services data, US crude oil stockpiles data
• Thursday: China trade data, Germany industrial production data, Eurozone construction data, BoE rate decision, US jobless claims data
• Friday: Fed rate decision, Japan household spending data, France trade data

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