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December 2–6, 2024
Indian benchmark indices showed a cautious trend this week, factoring in slower rate cuts amidst lingering inflation concerns.
Foreign Institutional Investors (FIIs) sold off sharply after a brief buying spree, contributing to short-term bearish momentum.
Asian markets rallied on inflation data, while European markets saw respite with lower bond yields in France.
📅 Key Events This Week
Day | Event | Details |
|---|---|---|
Monday, Dec 2 | IPO: Property Share REIT Opens | Subscription for the Property Share REIT IPO begins; price range: ₹10 lakh–₹10.5 lakh per unit. |
India Manufacturing PMI | Final HSBC India Manufacturing PMI for November to be released; preliminary estimate was 57.3. | |
Euro Area Unemployment Rate (Oct) | October unemployment data to be announced; previously unchanged at 6.3% in September. | |
US ISM Manufacturing PMI (Nov) | Manufacturing PMI expected; prior reading fell to 46.5 in October, signaling contraction. | |
Wednesday, Dec 4 | India Services PMI | The final HSBC India Services PMI for November is to be released; October's reading was 59.2. |
US ISM Services PMI (Nov) | Final Services PMI awaited; October's reading jumped to 56, signaling strong activity. | |
Euro Area Services PMI (Nov) | Final Services PMI for November; the initial estimate was 49.2, indicating contraction. | |
UK Services PMI (Nov) | Final reading to be declared; flash estimate for November was 50, signaling stagnation. | |
Thursday, Dec 5 | US Initial Jobless Claims (Nov 30) | Weekly jobless claims for November 30 are to be updated; the previous print was 213,000, below expectations. |
Friday, Dec 6 | India Interest Rate Decision | RBI's MPC to decide on the benchmark repo rate; speculation of a possible rate cut. |
India Foreign Exchange Reserves (Nov 22) | The latest foreign exchange reserves data is awaited; the reserves fell to $657.89 billion as of Nov 15. |
💡 Sector Highlights
Real Estate: Property Share REIT IPO to gauge investor interest amidst high pricing.
Manufacturing & Services: PMI data will provide insights into sectoral momentum in India and globally.
Financials: Interest rate decisions to determine liquidity and credit growth trends.
📊 Important Observations & Market Sentiments
Volatility: Rising uncertainty observed through increased volatility index (VIX) levels.
Investor Caution: Lack of positive triggers limiting aggressive buying.
Global Cues: Mixed economic data and central bank policies continue to steer market sentiment.
🤔 DO YOU KNOW?
The HSBC Services PMI has expanded for 40 consecutive months, reflecting consistent growth in India's service sector.
📉 Stocks to Focus On
Tata Steel: Likely rebound due to easing raw material costs.
HDFC Bank: Remains strong amidst robust loan growth.
Infosys: Possible consolidation in tech stocks due to sector rotation.
📜 Summary
This Upcoming week is packed with critical macroeconomic data and market-moving events. The RBI interest rate decision and PMI data will shape market movements, while global cues like US ISM indices and foreign flows will continue to impact sentiment. Stay alert to capitalize on volatility!
Stay Informed, Stay Ahead 🚀
😊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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