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The Market Whisper: Your Weekly Stock Markets Rundown
October 21-25, 2024
thestock whisperers
October 19, 2024
October 21-25, 2024
📉 Volatile Week: Indian Markets Struggle Amid Global Headwinds
The Indian stock market experienced a turbulent week as geopolitical tensions, global uncertainties, and tepid corporate earnings expectations weighed on investor sentiment. By Friday morning, the Sensex had dropped 382.14 points to 80,624.47, while the Nifty was down 123 points to 24,626.80.
A potential market bounce in the next few days as Foreign Institutional Investor (FII) selling is countered by Domestic Institutional Investor (DII) buying. Investors are advised to wait for market stability before accumulating large-cap stocks, particularly in the private sector banking space.
Additionally, disappointing sales reports from Bajaj Auto have raised concerns about weak consumer demand during the festival season, compounding fears of a market correction as Q2 FY25 earnings reports start to roll out.
📅 What to Watch Next Week
Day | Event |
|---|---|
Monday, Oct 21 | Earnings: Bajaj Housing Finance, CG Power and Industrial Solutions, UltraTech Cement. |
IPO Watch: Waaree Energies IPO opens with a price range of Rs 1,427-1,503. Closes Oct 23. | |
IPO Watch: Deepak Builders & Engineers IPO opens at Rs 192-203 per share. Closes Oct 23. | |
Tuesday, Oct 22 | Earnings: Adani Energy, Bajaj Finance, ICICI Prudential, Varun Beverages, Zomato. |
Wednesday, Oct 23 | Earnings: Bajaj Finserv, HUL, Pidilite, SBI, TVS Motors. |
Euro Area Consumer Confidence: October flash data to be released. | |
Thursday, Oct 24 | Earnings: Adani Total Gas, Colgate, Dixon Tech, Godrej Consumer, ITC, Oracle Fin Serve. |
India PMI Data: October flash Services and Manufacturing PMI will be announced. | |
US Data: Initial Jobless Claims, Manufacturing PMI, and Services PMI to be updated. | |
Friday, Oct 25 | Earnings: Bank of Baroda, BPCL, Bharat Electronics, Coal India, Interglobe Aviation, JSW Steel. |
India Forex Reserves: Data on October 11th is to be shared. | |
Saturday, Oct 26 | Earnings: CDSL, ICICI Bank, IDFC First Bank, J.K. Cement, Voltamp Trans, Yes Bank. |
🌍 Global Focus: Geopolitics, Inflation, and PMI Data
Geopolitical Tensions: Market sentiment continues to be affected by rising tensions in West Asia, while US presidential election uncertainties add another layer of concern for global investors.
China Stimulus: All eyes remain on potential fiscal measures from China, which could inject 2 trillion yuan into its economy to boost growth and stabilize its property market.
Economic Data to Watch: Key economic reports from India, Europe, the UK, and the US will provide critical insights, including PMI data, Euro Area consumer confidence, and US jobless claims.
📢 IPOs in Focus
Waaree Energies IPO: The solar power company opens its IPO on October 21 with a price band of Rs 1,427-1,503 per share. The issue closes on October 23.
Deepak Builders & Engineers IPO: Offering shares at Rs 192-203, the IPO is open for subscription from October 21-23.
Godavari Biorefineries IPO: Starting on October 23, with shares priced at Rs 188.91 each, this bio-refinery company will close subscriptions on October 25.
⚡ Market Sentiment & Earnings Outlook
With Q2 FY25 earnings rolling in, investors are preparing for potential disappointments, especially in light of Bajaj Auto's weak sales during the festive season. Earnings reports from major companies, such as UltraTech Cement, Bajaj Finance, and ICICI Bank, will provide key insights into sector performance and market trends.
Investors are advised to stay cautious and watch for signs of market stabilization before making any significant moves.
😊Thank you for subscribing to our Weekly Stock Markets Rundown. Stay tuned for next Saturday.
Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered financial advice.
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