Market Next Week: 5 Things To Watch Out For

The earnings season is in full gear, and the coronavirus delta variant is impacting negatively. The BSE Sensex rose 753.87 points to 53,140.06, while the Nifty50 gained 233.60 points to 15,923.40. The broader markets also benefited from the weeklong rally. The market is eagerly anticipating HDFC Bank's quarterly results on Monday, as well as Reliance Industries' acquisition of Just Dial and its quarterly results the following week. On Wednesday, the market will be closed for Bakri Id.

Earnings

Next week, the earnings season will be in full swing, with a lengthy list of big corporations releasing quarterly results, including ACC, HCL Technologies, HDFC Life Insurance Company, Asian Paints, Bajaj Finance, ICICI Prudential Life Insurance Company, and Bajaj Finserv. Spirits, Yes Bank, and MCX India.

IPO

The primary market is still active due to the strong sentiment in the secondary market and the abundance of liquidity. Tatva Chintan Pharma Chem, a specialty chemical firm, will be operational for two extra days this week.

Listing

On Monday, July 19, GR Infraprojects, a road construction firm, and Clean Science & Technology, a speciality chemical company, will make their stock market debuts. Both companies' shares sold at a 60 percent premium in the grey market, indicating that Wall Street is enthused about their upcoming IPOs.

Zomato Allotment

The street will also be keeping an eye on Zomato's initial public offering (IPO), which is set to take place in the second half of next week, around July 22. For the Rs 9,375 crore public offer, almost Rs 2 lakh crore in bids were received on three days (July 14-16).

Global Cues

Demand-driven inflationary pressure has been present in the US and Chinese economies. In India, on the other hand, inflation has risen above the 6 percent target, owing mostly to rising fuel prices rather than pent-up demand. This week's major central bank meetings are limited to the ECB. PMIs at the end of the week will underscore the lack of economic data. As the United Kingdom celebrates its "Freedom Day" on Monday, instances in that country and elsewhere are on the rise.

Among other things, delta variant cases, FII flow and corporate action to drive the market next week.