Macroeconomic data to dictate market trend
Macroeconomic data, trend in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), the movement of rupee against the dollar and crude oil price movement will dictate market trend in the near term.
Asian stocks including Indian equities will on Monday, 11 July 2016, react to the outcome of the crucial US nonfarm payroll data for June 2016 scheduled to release later in the global day on Friday, 8 July 2016.
Among stock specific news, software major Infosys is scheduled to announce its Q1 June 2016 results on Friday, 15 July 2016.
IndusInd Bank is scheduled to announce its Q1 June 2016 earnings on Monday, 11 July 2016.
Shares of engineering and construction major L&T will be in focus as the company's subsidiary and IT outsourcing services provider Larsen & Toubro Infotech known as L&T Infotech's initial public offer (IPO) commences next week. L&T Infotech's promoter L&T is selling a part of its stake through the IPO of L&T Infotech. L&T Infotech will not get any funds from the IPO and the entire sale proceeds will go to parent L&T. L&T is selling 1.75 crore shares of L&T Infotech through the IPO. The price band for the IPO has been fixed at Rs 705-710 per share. The IPO opens for bidding on Monday, 11 July 2016 and closes on Wednesday, 13 July 2016.
Shares of public sector oil marketing companies (PSU OMCs) will be in focus as a regular fuel price review is due during the middle of the month. PSU OMCs review fuel prices twice a month based on the trend in international oil market and currency movement. The first review takes place during the middle of the month and the last review at the month-end.
Among macro economic data, the government will announce data on industrial production for May 2016 after market hours on Tuesday, 12 July 2016. India's industrial production (IIP) contracted by 0.8% in April 2016. On the same day, the inflation based on the consumer price index (CPI) for June 2016 is scheduled to be released by the government. CPI inflation increased to 21-months high of 5.76% in May 2016, recording rise for second straight month.
The inflation based on wholesale price index (WPI) for the month of June 2016 is scheduled to be released by the government on Thursday, 14 July 2016. WPI rose 0.79% in May 2016, after rising 0.34% in April.
On the global front, the Bank of England (BoE) is expected to cut rates from an already record low of 0.5% when it meets on Thursday, 14 July 2016, in the wake of sluggish UK economic growth. BoE governor Mark Carney had earlier hinted that the central bank is likely to cut interest rates to combat a post-Brexit vote slowdown.
China's industrial production data for the month of June 2016 is scheduled to release on Friday, 15 July 2016. On the same day, US' industrial production data for the month of May 2016 is due.
Asian stocks including Indian equities will on Monday, 11 July 2016, react to the outcome of the crucial US nonfarm payroll data for June 2016 scheduled to release later in the global day on Friday, 8 July 2016.
Among stock specific news, software major Infosys is scheduled to announce its Q1 June 2016 results on Friday, 15 July 2016.
IndusInd Bank is scheduled to announce its Q1 June 2016 earnings on Monday, 11 July 2016.
Shares of engineering and construction major L&T will be in focus as the company's subsidiary and IT outsourcing services provider Larsen & Toubro Infotech known as L&T Infotech's initial public offer (IPO) commences next week. L&T Infotech's promoter L&T is selling a part of its stake through the IPO of L&T Infotech. L&T Infotech will not get any funds from the IPO and the entire sale proceeds will go to parent L&T. L&T is selling 1.75 crore shares of L&T Infotech through the IPO. The price band for the IPO has been fixed at Rs 705-710 per share. The IPO opens for bidding on Monday, 11 July 2016 and closes on Wednesday, 13 July 2016.
Shares of public sector oil marketing companies (PSU OMCs) will be in focus as a regular fuel price review is due during the middle of the month. PSU OMCs review fuel prices twice a month based on the trend in international oil market and currency movement. The first review takes place during the middle of the month and the last review at the month-end.
Among macro economic data, the government will announce data on industrial production for May 2016 after market hours on Tuesday, 12 July 2016. India's industrial production (IIP) contracted by 0.8% in April 2016. On the same day, the inflation based on the consumer price index (CPI) for June 2016 is scheduled to be released by the government. CPI inflation increased to 21-months high of 5.76% in May 2016, recording rise for second straight month.
The inflation based on wholesale price index (WPI) for the month of June 2016 is scheduled to be released by the government on Thursday, 14 July 2016. WPI rose 0.79% in May 2016, after rising 0.34% in April.
On the global front, the Bank of England (BoE) is expected to cut rates from an already record low of 0.5% when it meets on Thursday, 14 July 2016, in the wake of sluggish UK economic growth. BoE governor Mark Carney had earlier hinted that the central bank is likely to cut interest rates to combat a post-Brexit vote slowdown.
China's industrial production data for the month of June 2016 is scheduled to release on Friday, 15 July 2016. On the same day, US' industrial production data for the month of May 2016 is due.
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