The week ahead is set to see a lot of action for financial markets, with a mix of key global economic data and domestic market action. Especially after US President Donald Trump and Russia’s President Vladimir Putin walked away with no deal or ceasefire, the global markets will have their eyes on key economic data, Fed Chair’s speech and more for the way ahead.
The highlight of the week will be the annual Jackson Hole Symposium, where a speech will come from Fed Chair Jerome Powell on Friday. The markets will also be closely watching other important data from the U.S., including Jobless Claims, and PMI data.
Back home, the primary market is buzzing with activity as Vikram Solar, Patel Retail, Shreeji Shipping Global, and Gem Aromatics are among the companies with issues opening in the coming week.
Markets On Home Turf
The benchmark equity indices closed flat on Thursday, Aug. 14. Shares of Wipro, Eternal and HDFC Life contributed positively to the index.
The NSE Nifty 50 ended 11.9 points or 0.05% higher at 24,631.3 and the BSE Sensex ended 57.7 points or 0.07% up at 80,597.6.
Benchmarks marginally outperformed broader market Indices for the week as they gained nearly 1% for the week. Nifty snapped its six week losing streak, led by Apollo Hospital, Eternal and Cipla.
Alkem Labs and One 97 Communication gained the most in Nifty Midcap 150. JM Financial and NMDC steel gained the most in Nifty Smallcap 250.
Key Global Economic Data
On Monday, the week kicks off with the release of the EUR Trade Balance for June. On Tuesday, the U.S. is a major focus with several key housing market indicators. Further, the Atlanta Fed GDP Now will provide an updated forecast for Q3 GDP, and the API Weekly Crude Oil Stock is also expected.
On Wednesday, Europe will release its CPI data for July.
On Thursday, Europe will release several PMI data points for August, including Manufacturing, Services, and Composite. The U.S. will release PMI data, in addition to weekly Jobless Claims. Other notable data from the U.S. includes Existing Home Sales and the US Leading Index.
Friday, the spotlight will be on the Jackson Hole Symposium, with a speech from Fed Chair Powell.
Domestic Cues To Watch
On the domestic front on Thursday, Nikkei S&P Global Manufacturing PMI and Nikkei Services PMI for August will be released. The combined Manufacturing & Services PMI will also be announced.
Further, a significant event is the release of the RBI MPC Meeting Minutes. The minutes will shed light on why the MPC kept the repo rate unchanged at 5.50% in its August meeting.
Primary Market
The primary market is set to see a flurry of action with five mainboard IPOs opening. From the largest offer in the block, Vikram Solar is looking to raise over Rs 2,000 crore. Patel Retail Ltd. IPO is aiming to raise Rs 243 crore.
Four of the mainboard IPOs will be open to subscription from Aug. 19 through Aug. 21. They are expected to hit the D-Street on Aug. 26.
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