As the markets register their second consecutive week of gains, attention will shift to the Reserve Bank of India's upcoming monetary policy committee meeting next week.
The RBI's decision will carry added significance following recent data showing the growth in the gross domestic product slowing to 5.4% in the second quarter, the weakest in seven quarters. Retail inflation in India spiked to a 14-month high of 6.21% in October, adding to uncertainty.
Key economic indicators, such as the Nikkei S&P Global Manufacturing Purchasing Managers' Index and the Nikkei Services PMI will also be closely monitored.
Traders will also keep a close eye on Federal Reserve Chair Jerome Powell's speech on Wednesday, looking for clues on the Fed's future monetary policy direction.
On the primary market front, activity is expected to remain subdued, with eight companies scheduled to debut on the exchanges next week.
Among the stocks to watch, Wipro Ltd., Can Fin Homes Ltd. and Diamond Power Infrastructure Ltd. are set to go ex-trade, making them key names to track in the coming days.
Market Performance This Week
The benchmark equity indices posted gains for the second consecutive week, rising nearly 3% over the past two weeks.
On Friday, both the NSE Nifty 50 and the BSE Sensex rebounded from sharp declines in the previous session, which had seen the steepest intra-day drop in over three weeks.
The Nifty closed 216.95 points or 0.91% higher at 24,131.10, while the Sensex ended 759.05 points or 0.96% up at 79,802.79.
The broader markets also saw gains, though they lagged behind the benchmarks. The BSE MidCap rose 0.31%, and the SmallCap gained 0.76%.
On the sectoral front, 20 out of 21 indices on the BSE posted gains, with BSE Healthcare leading the way. The only sector to decline was BSE Realty.
The market breadth was positive, with 2,340 stocks advancing, 1,613 declining and 97 remaining unchanged on the BSE.
For the week, both the Nifty and Sensex rose 0.9%. The Nifty Media saw the largest gain, while the Nifty Auto and IT were the only sectors to finish in the red.
Domestic Factors: RBI MPC Meet, Foreign Exchange Data
All eyes will be on the RBI's next MPC meeting on Dec. 6. The focus will be the RBI's decision to either cut the repo rate or maintain the status quo.
If the MPC decides to keep the repo rate unchanged on Dec. 6, home loan interest rates and equated monthly installments will remain stable, offering borrowers certainty in their financial planning.
Among other important events the Nikkei S&P Global Manufacturing PMI and Nikkei Services PMI will be released on Monday and Wednesday respectively. The cash reserve ration data is also expected to be released on Thursday.
The foreign exchange data, which is released on every Friday, will also be released.
Global Factors: Powell's Speech, US PMI
The US is expected to release the Manufacturing PMI on Monday and S&P Global Composite PMI on Wednesday.
Federal Reserve Chair Jerome Powell's speech on Wednesday will be very important in the coming week as traders will closely watch it for hints regarding the future monetary policy. While the initial jobless claims data will be released on Thursday, unemployment rate will be released on Friday.
Trade balance, exports and imports data will be released on Thursday by the US.
Christopher Waller, member of Federal Reserve Board of Governors, Federal Open Market Committee Member John Williams and Governor Bowman are the other important speakers for the week.
Europe's GDP data will be released on Friday. However, the Manufacturing PMI of Europe will also be released on Monday and the Services PMI to be released on Wednesday. UK's Composite and Services PMI will be released on Wednesday, while the Construction PMI will be released on Thursday.
China's trade balance, exports and imports data will be released on Friday.
IPOs, Listings Next Week
India's primary market is expected to experience subdued activity in the upcoming week, while eight companies are scheduled to debut on the exchanges.
During the first week of December, initial public offerings of two small and medium enterprises will open, while no mainboard offerings are scheduled.
However, the bidding for Suraksha Diagnostics' IPO, which was subscribed 11% on its opening day, will be extended into next week. The company aims to raise Rs 846.3 crore, with a price range of Rs 420 to Rs 441 per share.
In the SME segment, Nisus Finance Services Co. will launch its debut IPO on Dec. 4, aiming to raise Rs 114.2 crore. The price band for the issue is set between Rs 170 and Rs 180 per share.
On Thursday, Emerald Tyre Manufacturers Ltd. will open its public offering, with a price band of Rs 90 to Rs 95 per share, targeting Rs 49.3 crore.
On the listing front, eight companies are scheduled to debut on the exchanges next week, with only one in the mainboard segment. Suraksha Diagnostic will make its debut on Friday, after its IPO concludes on Dec. 3.
Rajesh Power Services Ltd., which raised Rs 160.5 crore, will list on the SME segment on Monday. C2C Advanced Systems Ltd. and Rajputana Biodiesel Ltd. will debut on Dec. 3.
Other companies, including Ganesh Infraworld Ltd., Agarwal Toughened Glass India Ltd., Apex Ecotech Ltd., and Abha Power and Steel Ltd., are set to list later in the week.
Corporate Actions
Wipro Ltd., Rajoo Engineers Ltd. and Consecutive Investment & Trading Co. will trade ex-bonus in the coming week. While Wipro and Consecutive Investment & Trading are issuing 1:1 bonus, Rajoo Engineers will issue 1:3 bonus shares.
Can Fin Homes Ltd., Phoenix Township Ltd. and Indo US Bio-Tech Ltd. are some of the stocks that will trade ex-dividend next week.
Diamond Power Infrastructure Ltd.'s stock will go ex-date for share split from Rs 10 to Rs 1. Consecutive Investment & Trading Co. and Eraaya Lifespaces Ltd. will also go ex-date this week for stock split.
Also Read: Wipro Proposes Issuance Of 1:1 Bonus Shares
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