Weekly Triggers Jan 10

weekly 1 Weekly Triggers Jan 10

Trigger for the Week

How will it impact?

·         Nifty closes the week at record high levels of 14,350 levels·         The Nifty has decisively crossed the 14,000 barrier and Sensex is now decisively above the 48,700 mark
·         GDP advance estimates at -7.7% for FY21 will be a positive for markets·         The GDP figure pre-supposes flat to positive growth in Q3 and Q4 hinting at better performance for FY21
·         India rolls out the inoculation project on 16 January·         Inoculation of 30 crore in Phase 1 will be a big boost for pharma and logistic companies and reduce COVID risk
·         Watch out for Phase 3 clinical trials of Bharat Biotech during the week·         Despite early reverses, a positive signal from COVAXIN will be essential for Indian vaccination drive
·         Fiscal deficit concerns could cloud market outlook ahead of Budget·         Early estimates peg the fiscal deficit at 7-8% of GDP and that could be a concern for ratings and for the INR
·         TCS will set the trend for other IT results during the coming week·         TCS reported robust growth in revenues, OPM and PAT. This is likely to be positive for Infy and Wipro this week
·         D-Mart results hint at a robust recovery in retail consumption·         Profits more than doubled QOQ with food and hygiene products witnessing robust consumer demand
·         CPI Inflation data on 12 Jan will be critical to test food price impact·         It assumes importance as the latest survey by Reuters pegs Dec-20 inflation sharply lower at 5.28%
·         Nov-20 IIP number may disappoint going by the core sector trend·         Nov-20 IIP is expected to get back to flat growth after 3.6% in Oct-20. This could dampen sentiments
·         Trade data will also be announced during the coming week for Dec-20·         There could be some worries as early estimates indicate fall in exports and widening trade deficit at $15.7 billion
·         FPI flows continue to be robust in Jan-20 with Rs.9200 crore inflows·         The sharp inflow of Rs.6300 crore of FPI flows on Friday indicate that global appetite for Indian stocks is intact
·         Call and put concentration ranges have moved higher in the week·         Thanks to Friday rally, the Nifty put concentration has moved to 14,200 and call concentration to 14,600
·         The week will be influenced by data triggers from the US and Europe·         Focus on US JOLTS, inflation, jobless claims, retail sales, IIP and PPI; Euro Area IIP, ECB policy, Trade Balance
·         Key Asian data points could also influence markets during the week·         Asian data points include Japan machine tool and machinery orders, China inflation and vehicle sales



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