The week ahead is expected to be news heavy, with most markets across the world being under pressure, while the Indian markets are expected to see some recovery.
The US gross-domestic-product data, and manufacturing and services PMI are to be released in the coming week. The UK will also release its CPI numbers.
On the domestic front, a lacklustre week for the initial public offerings is expected, with only small and medium enterprise offerings on tap and no major mainboard listings.
Topping the week off, the US jobs report will be released on Friday, a crucial indicator for the Fed.
Markets Last Week
Indian equities had their best weekly run in years on Friday as investors shrugged off negative global sentiments to chase attractive stocks hammered by a recent correction.
The NSE Nifty 50 closed 159.75 points or 0.69% higher at 23,350.40, while the BSE Sensex ended 557.45 points or 0.73% up at 76,905.51. During the day, the Nifty jumped to 23,402.70, while the Sensex rose to 77,041.94.
On a weekly basis, the Nifty gained over 4%, the highest since February 2021. The Sensex jumped by an equal measure, the most since July 2022. The gains were powered by realty, energy and pharma stocks.
"Investors shrugged off negative global markets sentiment as the FIIs making a steady comeback to local equities this week, coupled with a sharp drop in the domestic currency level provided a major fillip," Prashanth Tapse, senior vice president of research at Mehta Equities, said.
Domestic Cues
S&P Global will release the Nikkei S&P Global Manufacturing PMI on Monday. Nikkei Services PMI will also be released on Monday. In addition, the Reserve Bank of India will release foreign reserve data along with bank loan growth and deposit growth on Friday.
Among other important events, Indian Premier League 2025 begins from Saturday. Sunday will also see an age-old rivalry of Mumbai Indians and Chennai Super Kings. The coming months will turn out to be interesting for the cricket fans, while those following US President Donald Trump will keep an eye on his latest moves.
Global Cues
Global markets have been under pressure and showing volatility amid geopolitical anxiety. However, the markets did see some recovery last week as Fed Chair Jerome Powell's calibrated tone on recession risk — stating it was "not high" — soothed nerves among stock investors.
US GDP, Manufacturing and Services PMI are set to be released in the coming week. In addition, FOMC Member Bostic and Fed Vice Chair for Supervision Barr will also be speaking on Monday. CB Consumer Confidence data will also be released on Tuesday.
Topping the week off, the US jobs report will be released on Friday, a crucial indicator for the Fed. The UK will also release its CPI numbers on Wednesday along with its Spring Forecast statement.
The European Central Bank will be holding its non-monetary policy meeting next week.
Primary Market Action
India's primary market hit a roadblock in March, with a notable slowdown in initial public offerings, marked by a complete absence of mainboard offerings and listings so far this month.
The upcoming SME IPOs in India this week are Desco Infratech Ltd., Shri Ahimsa Naturals Ltd. and ATC Energies System Ltd. The current active SME IPOs are Grand Continent Hotels, Rapid Fleet, Active Infrastructures.
The week will see the listing of two SMEs — Paradeep Parivahan Ltd. and Divine Hira Jewellers Ltd.
Corporate Action
Shares of TVS Motor Co., REC Ltd., Ksolves India Ltd., Mishra Dhatu Nigam Ltd. and Kama Holdings Ltd. will turn ex-date for the issue of interim dividends.
Shares of KBC Global Ltd., Dhanlaxmi Roto Spinners Ltd. and Enbee Trade & Finance Ltd. will turn ex-date for their stock split.
The table below shows the full list of corporate actions for the upcoming week.
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