Mumbai, November 9 (IANS). Next week is going to be very important for the Indian stock market. Second quarter results, retail and wholesale inflation data and economic data will decide the future direction of the market.
Next week, results will be released by major companies like Bajaj Finance, ONGC, Bajaj Finserv, Biocon, Ashok Leyland, Asian Paints, Tata Steel, BPCL, Marico and Oil India.
Inflation data will be released by the government on November 12. Inflation data is considered very important for the market. This provides information about the demand and supply situation.
There will be a lot of activity in the IPO market in the trading session of 10-14 November and about six companies will issue IPOs in the market, of which four will be mainboard and two will be SME.
Last week was a mixed one for the Indian stock market. Nifty closed 229.80 points or 0.89 per cent lower at 25,492.30 and Sensex closed 722.43 points or 0.86 per cent lower at 83,216.28.
According to Choice Broking, “The price action suggests that the market may remain in consolidation in the coming period, as Nifty failed to sustain higher levels and closed below 25,500.”
On the other hand, Nifty Midcap 100 index was up marginally by 17.25 points at 59,843.15 and Nifty Smallcap 100 index was down by 304.85 points or 1.66 per cent at 18,075.95.
During this period, Bank Nifty increased by 100.45 points or 0.17 percent and closed at 57,876.80.
On sectoral basis, Nifty PSU Bank (2.05 percent), Nifty Financial Services (0.37 percent) and Nifty Oil & Gas (0.05 percent) closed higher.
Nifty IT (1.67 per cent), Nifty FMCG (1.37 per cent), Nifty Metal (1.75 per cent), Nifty Media (3.17 per cent), Nifty Energy (1.34 per cent), Nifty Infra (1.80 per cent) and Nifty Commodities (1.38 per cent) closed with losses.
–IANS
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