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On the back of good global cues, the Indian market has ended the September series on a strong note. Now a new series has begun and the market will focus on many domestic and global triggers. The auto companies' sales figures for the month of September are going to be released, second quarter business updates and then the results will be released. The market will also keep an eye on the action in the primary market as well as the figures of institutional investors.
After the Federal Reserve cut interest rates by 50 basis points in the US, Indian markets also saw a boom. Banking, financial, auto and real estate sectors were seen in action. Metal and power sectors also showed strength. However, some pressure was seen in IT and export related stocks. After the results of Accenture, expectations of a rally in Indian IT stocks have also increased.
What will be the big triggers for the market this week: - Signals from global markets Last week, China's central bank PBoC announced a rate cut. Along with this, the government here also announced an economic relief package. After this, there was a boom in the markets of China and Hong Kong and commodity prices increased. Next week also the market will keep an eye on global markets and macroeconomic conditions. The US market is also seeing a boom. Crude oil prices On Friday, crude oil prices in the international markets showed a jump. But, on a weekly basis, pressure was seen in it. Brent crude oil is at $ 71.89 per barrel. WTI crude oil is at $68.18 per barrel. FIIs - DIIs figures Foreign institutional investors have been net buyers in the cash market with ₹22,403.72 crore in the month of September. At the same time, DIIs have bought shares worth ₹24,211.50 crore in the cash market so far this month. Foreign portfolio investors have bought shares worth ₹57,359 crore so far this month. Corporate action Corporate action can be seen in many stocks next week. The ex-dividend date of ADS Diagnostics, Accelya Solutions and KPI Green Energy is on 30 September. Apart from this, the ex-split and ex-bonus date of many stocks is also next week. Action in the primary market In the mainboard segment, the subscription of Hyundai Motor IPO and Afcons Infrastructure IPO is going to open soon. However, their launch date has not been revealed yet. Diffusion Engineers IPO is open till Monday. In the SME segment, three new IPOs are going to open for subscription. Whereas, 6 issues are already open for subscription. Talking about listing, shares of Manba Finance will be listed on NSE and BSE on Monday. KRN Heat Exchanger is to be listed on October 3. Shares of Diffusion Engineers will be listed on October 4.
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