After a holiday-truncated week, the market is expected to consolidate further with stock-specific action due to the last lot of the September quarter results, US inflation, Fed Chair Jerome Powell’s speech, India’s CPI inflation, and FII activity. The markets will remain shut on the 15th of this month for Guru Nanak Jayanti.
Next week, more than 2,500 companies will declare their September quarter results, including ONGC, Britannia, Hindalco, Eicher Motors, Grasim, Hyundai Motor Hero MotoCorp, etc. Apart from earnings, there will be a focus on the CPI inflation for October, which will be announced on Tuesday, followed by the announcement of WPI Inflation for October on the 14th of this month. Globally, investors will keep an eye on US inflation and retail sales in October. Furthermore, global markets will monitor speeches by several Fed officials during the week, including Powell’s on the 15th of this month. The Euro zone’s GDP numbers as well as preliminary estimates for the UK and Japan’s Q3 GDP figures are also due next week, while China will release its retail sales, industrial production, house price index, and unemployment numbers for October.
Market participants will also closely monitor FII and DII activity. The street will also watch oil prices, which have been hovering below the 75-dollar mark for several weeks now.
