Stock Market Next Week (8 to 12 Nov 2021)- Expert’s View

 

 

Expert’s view on Stock Market Next Week (8 to 12 Nov 2021):  Indian stock markets finished higher during the Diwali week, ended 4 November, after booking losses for two straight weeks. The domestic markets gained last week on the back of positive economic data, better than expected quarterly earnings, and positive global market cues. However, the upside of the Indian stock markets remained capped due to FIIs outflows.

 

The key factors that are likely to affect the Indian stock market next week 

 

 

Q2FY22 Earnings

 

We are on the last leg of the second quarterly earnings season for FY22. So far 42, Nifty50 companies have reported their July-September end quarterly earnings. In the coming week, there are 7 Nifty50 companies and a total of more than 2100 plus companies will be announcing their earnings. The result-calendar of Nifty50 companies for the coming week is given below.

 

Q2 FY22 Results dates for Nifty50 Stocks
8 Nov 2021	Britannia
9 Nov 2021	M&M
11 Nov 2021	Tata Steel
12 Nov 2021	Grasim
12 Nov 2021	Hero Motorco
12 Nov 2021	Hindalco
12 Nov 2021	ONGC

Global market cues next week

 

The global markets sentiments were upbeat last week. The global markets mostly gained due to healthy economic data, better corporate earnings, and dovish Federal Reserve policy meeting outcome. In the coming week, global markets will be focusing mainly on inflation and industrial production. The schedule for global macroeconomic data for the next week are 

 

Important Global Macro Data Next Week
8 November 21	Fed’s Speech	US
8 November 21	Consumer Inflation Expectation Oct	US
9 November 21	Current Account SEP	Japan
9 November 21	Core PPI Oct	US
10 November 21	Inflation rate Oct	China
10 November 21	Inflation Rate Oct	US
10 November 21	Jobless Claim	US
11 November 21	Balance of Trade	GB
11 November 21	GDP Growth Prel Q3	GB
11 November 21	Industrial Production SEP	GB
12 November 21	Michigan Consumer Sentiments Prel Nov	US
12 November 21	Michigan Inflation expectation Prel Nov	US
12 November 21	Vehicle Sales Oct	China
12 November 21	Loan growth Oct	China

 

Domestic Economic data

 

Indian stock markets will have CPI-based retail inflation data for the month of October and Industrial production data for the month of September on 12th November. 

The retail inflation in September fell to five months low at 4.35 percent against 5.3 percent in the previous month, which is RBI’s comfortable range. The Industrial production in August increased by 11.9 percent as per the data released by the government last month. In India also investors will closely monitor the inflation data. As far as the domestic inflation is in RBI’s comfort zone, we may not see RBI Monetary policy tightening or interest rate hike in India.

 

Expert view on Nifty and Bank Nifty Futures for the week (8- 12 Nov)

 

Nifty futures current position is on Buy, traders can continue the Buy position and reverse to the short position if Nifty futures close below 17742.

Bank Nifty futures current position is Buy, traders can continue the Buy position and reverse to the Short position if Bank Nifty futures close below 38700.

 

FII & DIIs flow

 

In the current financial year, FIIs sold almost every month except for the month of September, where they bought only 913.77 crores. DIIs were the buyer in the current financial year and tried to support the markets. In the last seven months, FIIs sold maximum in the month of October Rs 25, 572.19. It is mainly due to Federal Reserve’s asset tapering news. 

If FIIs are continuously selling and increase their selling volume then we may see further correction in the markets. In the last week, FIIs sold Rs 686.85 crore while DIIs bought 343.82 crores in the cash market segment.

 

Coronavirus risk & Vaccination

 

India reported less than 15k daily fresh covid cases since 28 October, The daily positivity rate was recorded at 1.35 percent due to the increase in vaccination. In India, more than 107 crore Covid Vaccination administered so far, of which 31.55 percent of people have completed second doses of vaccination, and the rest are done with a single dose.

Globally still, there are some countries like Russia, France, Italy, Germany, Austria, Ireland, etc where covid cases are rising, and the investors should closely watch out for the covid numbers.

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You may also like to read, Must read before opening Demat & Trading account online

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Happy Investing!!

Editor’s Desk

 

Disclaimer-

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