Next week promises to be a pivotal one for global and Indian markets, with several major events that could create volatility and influence investor sentiment. From the U.S. election and Federal Reserve policy decisions to critical domestic earnings announcements, these developments will likely shape trading activity across sectors. Here are the top factors to watch:
Key Events to Watch
U.S. Election (November 5)
- The outcome of the U.S. elections could set the tone for global markets, potentially influencing investor confidence and impacting market sectors in different ways.
Federal Open Market Committee (FOMC) Meeting (November 6-7)
- The FOMC meeting will be closely watched for any decisions on interest rate cuts. Chairman Jerome Powell has hinted at potential reductions, which could impact the global economy and the Indian market in particular.
Bank of England Policy Meeting (November 7)
- The Bank of England’s policy announcement may affect international sentiment, especially if it aligns with or differs from the U.S. Federal Reserve’s stance.
Domestic Earnings Announcements
- Around 550 Indian companies will announce their Q2 results, including major players like ABB, Escorts, Exide, IRCTC, Berger Paints, NHPC, Cummins, and Jindal Steel. These results will offer insights into sectoral health and economic recovery, potentially affecting stock performance.
IPO Listings
- A few IPOs are expected to debut on the market, though initial premiums indicate lukewarm demand. Their listings will be watched as indicators of investor appetite for new equity.
Auto Sector Reaction to Sales Data
- Auto sales data for the month has already been released, and on Monday, the market will react to these figures. The performance of auto stocks will indicate investor sentiment on the sector’s health and demand outlook.
Foreign Institutional Investor (FII) Activity
- In October, FIIs recorded a net sale of ₹1,14,445 crore, with another ₹50 crore sold on November 1. Continued FII selling could exert pressure on Indian equities.
Commodity Prices
- Gold prices have reached all-time highs, reflecting safe-haven demand, while the Indian rupee continues to depreciate. Crude oil remains stable, providing some relief. Movements in these commodities could further influence market trends.
- Election in Inida :
India will have assembly elections in Maharashtra and Jharkhand.
- Maharashtra will hold its election in a single phase on November 20, 2024.
- Jharkhand will conduct its election in two phases, with the first phase on November 13 and the second on November 20.
With these factors in mind, the upcoming week is set to be dynamic, with potential market fluctuations across global and domestic fronts.