| Trigger for the Week |
How will it impact? |
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- Nifty -0.31% down, Sensex -0.40% lower for the week ended 19-Dec
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- Amid FPI selling and the weak rupee, the investor appetite for even the frontline stocks was missing
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- Mid-cap index +0.04% flat; small cap index 0.00% flat this week
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- The smaller stocks did not offer any direction this week and closed absolutely flat; displaying lack of interest
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- Key corporate actions with record date in the coming week to 26-Dec
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- GRM Overseas, Ram Ratna Wires (Bonus); Nuvama, Caspian (Stock Split); Canara Robeco, PPL (Dividends)
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- Markets will look for signals of RBI support to rupee next week
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- After weakening to ₹91.40/$ this week, late dollar selling by the RBI led to a strong close at ₹89.58/$
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- Japanese carry trade will be in focus this week after BOJ hiked rates
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- Much of EM flows have been funded by low-cost Yen borrowings, but that can change after the rate hike
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- DPIIT to announce India core sector growth for November on 22-Dec
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- After falling to 0.00% in October due to the base effect, the core sector is expected to get back into positive zone
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- RBI will also announce the loans, deposits, and FX reserves data
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- While the C/D ratio will be critical for growth of banks, the forex reserves will be key amid RBI intervention
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- US BEA to announce the PCE inflation for October on 22-Dec
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- While September PCE inflation had scaled 2.8%, the big concern is the elevated levels of core inflation in the US
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- US BEA will also announce the Q3 GDP estimates on 23-Dec
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- GDP growth in Q2 had recovered to 3.8% after a sharp Q1 contraction; but Q3 GDP growth is expected at 3.2%
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- The upcoming truncated week is likely to see lower market volumes
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- The lower volumes are likely to be impacted by the year-end factor as well as the Christmas holidays this week
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- One IPO to open next week, while 1 IPO slated to list on the exchanges
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- While the ₹251 crore IPO of Gujarat Kidney & Super Specialty will open on Monday, KSH International will list
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- Nifty S/R at (25,900/26,013); Sensex S/R (84,754/85,086) for next week
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- Crucial levels for change in Long View will be 25,794 for Nifty and 85,112 for Sensex; with Shorts only below that
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- Key data points from US markets to be keenly watched this week
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- Personal Spends, Building Permits, IIP, Atlanta Fed GDP, Jobless Claims, Crude Oil stocks, Durable Goods Orders
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- Key data points from ROW markets to be keenly watched this week
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- CFTC Positions (EU); Core CPI, BOJ Minutes (Japan); Current Account, GDP (UK); PBOC Loan Rate (China)
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