The 51st G7 summit is set to be held from June 15 to 17 in Canada, with Prime Minister Narendra Modi attending the meeting.
The week will see a lot of key economic data released both on the domestic and international front. The spotlight will be on India’s Wholesale Price Index data and minutes of the Reserve Bank of India Monetary Policy Committee meeting, expected to be released during the week.
Apart from this, the US Federal Reserve is set to announce its interest rate decision, and key trade and industrial data is expected from the US, Japan and Europe. Coming to primary market action, Arisinfra Solutions is set to launch its mainboard offering.
Before we head straight into the calendar, here’s a recap:
Markets This Week
The benchmark equity indices closed lower for the third straight session on Friday, as sentiments were affected following the horrific crash of an Air India Boeing 787 Dreamliner craft in Ahmedabad.
The NSE Nifty 50 ended 169.60 points, or 0.68% lower at 24,718.6, while the BSE Sensex closed 573.38 points, or 0.70% down at 81,118.6. During the day, the Nifty fell 1.67% to trade at 24,473 and the Sensex declined 1.64% to 80,354.59.
The markets were in a downturn this week, with Nifty falling over 1.14%, driven by HDFC Bank Ltd. and Reliance Industries Ltd. The Sensex also slipped over 1.30% to its lowest value since June 2.
Broader market indices displayed mixed sentiment in comparison to the benchmark indices, though they were in a downward spiral too. The Nifty Midcap 150 and Smallcap 250 ended the week slipping 1.18% and 0.44%, respectively.
Domestic Cues: WPI Data And MPC Minutes
India’s Wholesale Price Index inflation data is scheduled for release on Monday, June 16. The WPI tracks the year-on-year change in prices of goods sold by wholesalers and serves as a key indicator of wholesale inflation trends.
On Friday, June 20, markets will turn their attention to the minutes of the Reserve Bank of India’s latest Monetary Policy Committee meeting. These minutes provide detailed insights into the economic considerations and internal discussions that shaped the central bank’s recent interest rate decision.
Global Cues
Markets will closely track the Bank of Japan’s interest rate decision on Monday, June 16, with traders watching for cues on the central bank’s policy trajectory.
Mid-week on Wednesday, June 18, attention will turn to a slate of crucial inflation data releases. The UK will publish its year-on-year Consumer Price Index, a key gauge of inflation that reflects changes in the prices of a basket of consumer goods and services. The euro zone will also release its CPI data on the same day.
In the US, initial jobless claims numbers are due, alongside the Federal Open Market Committee’s interest rate decision. The Fed is expected to keep rates unchanged at 4.50%.
Corporate Actions
Focusing on the flurry of corporate action set to unfold this week, a notable move is Bajaj Finance Ltd.’s bonus issue in a 4:1 ratio and stock split from Rs 2 to Re 1 on June 16.
Names like Tata Technologies, Hindustan Zinc, Reliance Industrial Infrastructure, Panasonic Carbon India Co., Tata Communications, Tejas Networks, Bajaj Auto, Bank of India, HDFC Life Insurance Co., Punjab National Bank, Supreme Industries, and Torrent Pharmaceuticals are set to pay out dividends.
Here’s a full look at all the corporate actions lined up for the week:
Primary Market Action
As the dry spell in the mainboard initial-public-offering space starts to dissipate in the third week of June, Arisinfra Solutions is set to launch its Rs 499-crore mainboard IPO. The SME segment is set to see a flurry of activity, with five new IPOs opening for subscription.
Arisinfra Solutions offers a fresh issue of shares, with its subscription window open from June 18 to June 20. Allotment is expected by June 23, with a tentative listing on June 25. The price band is yet to be released.
Coming to the SME segment, Patil Automation IPO opens on June 16 and closes on June 18. Samay Project Services IPO also will open on June 16 and close on June 18.
Eppeltone Engineers’s book-built IPO aims to raise Rs 43.96 crore through a fresh issue of 34.34 lakh shares. Influx Healthtech and Mayasheel Ventures are the remaining two SMEs opening for subscription next week.
. Read more on Markets by NDTV Profit.