Modi's Japan Visit, US Tariff Jitters, GDP Data And Ganesh Chaturthi — The Week Ahead
India is also set to celebrate Ganesh Chathurthi, marking a market holiday on Aug. 27.
Prime Minister Narendra Modi is scheduled to visit Japan on Aug. 29 and Aug. 30 to participate in the 15th India-Japan annual summit.
This will be Modi's eighth visit to Japan as the prime minister. Modi and his Japanese counterpart, Shigeru Ishiba, will review the Special Strategic and Global Partnership between India and Japan, the Ministry of External Affairs said.
The two prime ministers will deliberate on cooperation in the areas of defence and security, trade and economy, technology and innovation, and people-to-people exchanges, as well as discuss issues of regional and global importance, the MEA said in a statement.
Ongoing concerns over a potential 25% US tariff on Indian exports set to be implemented the coming week remain a key drag on investor sentiment. India is also set to celebrate Ganesh Chaturthi, marking a market holiday on Aug. 27.
The markets will also be closely watching other important data from the US, including housing data and Q2 GDP numbers.
Back home, the primary market is buzzing with activity as Vikran Engineering and Anlon Healthcare are among the companies with issues opening in the coming week.
Markets On Home Turf
Equity benchmarks snapped a six-session winning streak on Friday. The NSE Nifty 50 fell 213.65 points, or 0.85%, to close at 24,870.10, while the BSE Sensex slumped 693.86 points, or 0.85%, to end at 80,597.6.
Despite the broader weakness, Maruti Suzuki, Nestle India and Hero MotoCorp provided some support to the index with positive contributions.
In contrast, the broader markets outperformed. The Nifty Midcap 150 gained over 2% for the week, driven by strong moves in Sundaram Finance and Vodafone Idea.
The Nifty Smallcap 250 also advanced more than 2% this week, notching its second consecutive weekly gain. Godawari Power and Lemon Tree Hotels were among the top performers in the smallcap space.
Key Global Economic Data
Global markets will keep an eye on US housing data, consumer confidence, and GDP prints this week, with Q2 GDP and core PCE inflation data out Aug. 28 on the radar.
Fed officials, including Barkin, Williams, Logan, and Waller, are also scheduled to speak, potentially offering hints on the policy path ahead.
Domestic Cues To Watch
Back home, Indian markets will be shut on Aug. 27 for Ganesh Chaturthi, but key macro cues arrive later in the week. On Aug. 28, industrial production data for July will be released, followed by the Q1 GDP numbers on Aug. 29.
Primary Market
The primary markets will see two mainboard initial public offerings and eight small and medium enterprises IPOs this week.
Among mainboard IPOs, Vikran Engineering and Anlon Healthcare are going to open their IPOs this week
Vikran Engineering IPO will open for subscription on Aug. 26 and close on Aug. 29. The company plans to issue 7.9 crore shares, with the total issue size pegged at Rs 772 crore. The tentative date for allotment of shares is Sept. 1, while the listing is likely to take place on Sept. 3.
Meanwhile, Anlon Healthcare IPO will also hit the market on Aug. 26 and remain open until Aug. 29. The issue size is 1.33 crore shares, aggregating to Rs 121.03 crore. Similar to Vikran Engineering, the tentative date of allotment for Anlon Healthcare is Sept. 1, and the expected listing date is Sept. 3.
