The upcoming week will keep Dalal Street busy with strong primary market activity, several notable corporate actions and key macro data releases. Critical developments in the Middle East and Ukraine will also remain in focus, especially after the US entering the Israel-Iran conflict officially.
Besides, as the July 9 deadline for implementation of Trump's reciprocal tariffs approaches, India and the US may see further negotiations for an interim trade deal to avoid disruptions.
Before we head straight into the calendar, here's a recap:
Markets This Week
India's benchmark equity indices reversed their declining streak as they ended the week with gains on Friday. The return of optimistic sentiment to Dalal Street manifested in a comprehensive buying surge, as bulls initiated broad-based accumulation across sectors.
Benchmark indices outperformed broader market indices, with Nifty and Sensex closing more than 1.3% higher for the week. However, the Nifty Smallcap 250 fell by more than 1.5%, dragged down by AstraZeneca and Valor Estate.
The NSE Nifty 50 ended 319.15 points or 1.29% higher at 25,112.4, while the BSE Sensex closed 1,046 points or 1.29% higher at 82,408.
The rupee snapped its three-day slide, appreciating 14 paise against the US dollar. This resurgence was propelled by a fall in crude prices, rise in the stock markets and a subdued greenback.
Domestic Macro Data This Week
India will have three important data releases in the coming week.
The HSBC PMI Manufacturing and Services data for June will be released on Monday. The Manufacturing PMI was revised down to 57.6 in May from 58.2 in April.
The Reserve Bank of India will release the Balance of Payment and India's current account data for the January-March period on Monday. The Bloomberg estimate is a current account deficit of $3 billion. The CAD narrowed to $11.5 billion during the third quarter.
The government will release the Index of Industrial Production data on June 27 for May. The IIP is estimated to come at 2.4%, compared to 2.7% in April.
IPO Pipeline
The upcoming week, starting June 23, is one of the busiest periods of the year in the primary market. There are a significant number of initial public offerings opening for subscription this week with several highly anticipated names.
Investors will have a wide array of opportunities across both mainboard and SME segments.
The mainboard segment will see six major issues opening for subscription like HDB Financial Services, Kalpataru, Globe Civil Projects, Sambhv Steel Tubes, Ellenbarrie Industrial Gases and Indogulf Cropsciences.
Global Macro Data This Week
On the global front, key data release will be US PMI for June on Monday to show industrial and business confidence.
The updated first quarter US GDP data estimate will be out on Friday, as is core inflation for May.
Critical developments in the Israel-Iran conflict and the big US involvement will also have a bearing on markets globally. On Sunday, US entered Iran and attacked three of its nuclear sites. With this attack, US has got itself involved in the direct conflict of Israel and Iran. International Atomic Energy Agency confirmed no increase in off-site radiation till early Sunday, in a social media post. Israel Prime Minister Benjamin Netanyahu applauded US attacks. Iran has called for an emergency meeting of UN Security council and accused US of violating international laws.
Corporate Actions
A flurry of corporate actions are set to unfold this week, with notable names like Hindustan Unilever, HDFC Bank, Vedanta, Bajaj Finserv and Cipla going ex-trade for dividends.
Here's a full look at all the corporate actions lined up for the week:
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