Global indices, Fpi flows likely to influence the market


In the absence of major national clues, a few key global events will take center stage on Dalal Street this week, as concerns over aggressive COVID-era interest rate hikes and their impact on economic growth continue to rattle financial markets.

All eyes will be on testimony from Fed Chairman Jerome Powell as the U.S. central bank faces the task of reining in inflation without disrupting growth.

A multitude of macroeconomic data points will also be closely monitored.

The week that was

Indian stock indices posted their worst weekly performance in more than two years, led by a sell-off across all sectors. Besides the Nifty Bank, financial, IT, durable and metal indices lurk in the bearish zone – a stock or index is said to be in bearish territory once it loses at least 20% of its value from the high.

With the exception of Apollo Hospitals, all Nifty50 voters suffered weekly losses.

Broader markets also bled, reflecting weakness in major indexes.

Index Weekly variation (%)
Clever Midcap 100 -6.2
Clever small cap 100 -7.9

The road ahead

“The US central bank’s aggressive stance has sparked fears of a recession, which is rippling through markets around the world. However, easing global energy supplies could change the dynamic ahead. , participants should follow the trend, which indicates more pain to come,” said Ajit Mishra, Vice President of Research at Religare Broking.

Technical view

A short cover bounce cannot be ruled out this week, according to Yesha Shah, head of equity research at Samco Securities.

Shah recommends traders maintain a negative to neutral outlook and use any bounce as an exit opportunity.

She sees immediate support at 15,200 and immediate resistance at 16,200.

Mishra is of the view that the Nifty50 is approaching the 14,800-15,000 area, having decisively given up major support around 15,650.

Here are the main factors and events likely to influence Dalal Street in the week of June 20:

GLOBAL INDICES

Date WE Europe Asia
June 20 Construction output in the euro area Chinese loan prime rate
June 21st Home Sales Data Hong Kong Inflation Data
June 22 Testimony from Fed Chairman Jerome Powell, Fed officials Tom Barkin, Charles Evans and Patrick Harker will speak Eurozone consumer confidence data Minutes from the last BoJ policy meeting
June 23 Unemployment Insurance Claims Data, Services and Composite PMI Data, and Oil Inventory Data Eurozone manufacturing and services PMI data Manufacturing and services PMI data
June 24 Fed Bank stress test results, home sales data Inflation data in Japan

IFI activity

Institutional fund flows will continue to be on investors’ radar, with Dalal Street on track to complete a ninth straight fund of equity sales by overseas institutional investors.

Domestic Corporate Actions

Store Date of departure Objective Registration Date
Advait Infratech June 20 Final dividend Re 1 June 21st
Agro-tech foods June 20 Final dividend Rs 3
Baid Leasing and Finance June 20 Bonus number 1:1 June 21st
Bharat seats June 20 Dividend Re 0.8
Bliss GVS Pharma June 20 Final dividend Re 0.5
Brittany June 20 Final dividend Rs 56.5
Bank of Maharashtra June 20 Dividend Re 0.5
Morarka Finance June 20 Dividend Rs 4
Rane Brake June 20 Dividend Rs 20 June 21st
Tincture Shankar Lal Rampal June 20 AGE
Alaji Amines June 21st Final dividend Rs 6
Bhansali Engineering Polymers June 21st Final dividend Re 1
Diamonds and Jewels of Golkunda June 21st Final dividend Re 1.5
nelco June 21st Dividend Re 1.8
Panasonic Carbon June 21st Dividend Rs 12
Polycab India June 21st Dividend Rs 14
Raghuvansh Agrofarms June 21st AGE
Rane Holdings June 21st Dividend Rs 12 June 22
Supreme Industries June 21st Final dividend Rs 18
Tinna Rubber and Infrastructure June 21st Final dividend Rs 4 June 22
Sons and Fabriks June 21st Dividend Re 0.1
Ajanta Pharma June 22 Bonus number 1:2 June 23
Deepak Spinners June 22 Final dividend Rs 2.5
GHCL June 22 Special dividend Rs 5 June 23
GHCL June 22 Final dividend Rs 10 June 23
Indian hotels June 22 Dividend Re 0.4
Dr Lal Pathlabs June 22 Final dividend Rs 6 June 23
NDR auto components June 22 Final dividend Rs 2.5
NGL Fine-Chem June 22 Final dividend Re 1.75 June 23
GNP June 22 Dividend Re 0.64
Sagar cements June 22 Dividend Re 0.7
sky industries June 22 Final dividend Re 1 June 23
Union Bank of India June 22 Final dividend Re 1.9
Walchand Peoplefirst June 22 Final dividend – Rs. – 1.25
Alufluoride June 23 Final dividend Re 1 June 24
Ashnisha Industries June 23 Stock split from Rs 10 to Re 1 June 23
IT Age Management Services June 23 Final dividend Rs 12 June 24
Dalmia Bharat June 23 Final dividend Rs 5 June 25
Happiest Minds Technology June 23 Final dividend Rs 2
Nath Bio-Genes June 23 Dividend Rs 2
Navkar Urban Structure June 23 Stock split from Rs 10 to Rs 2 June 24
Welsh India June 23 Dividend – Rs. – 0.1500
Dhanvantri Jeevan Rekha June 23 AGE
Balkrishna Industries June 24 Final dividend – Rs. – 4 June 27
Nazara Tech June 24 Bonus number 1:1 June 27


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