Metals, real estate, telecom, some banks and capital goods stocks saw heavy buying, while selling in automobile, IT, oil and gas and select pharma stocks.
In the coming week, traders will keep an eye on these key points:
Around 75 companies will announce their results for the June quarter next week. These include Infosys, Wipro, Mindtree, HDFC Asset Management Company and Larsen & Toubro Infotech. Apart from this, Tata Metaliks, Essar Securities, Tasty Dairy Specialties, Angel Broking, Tata Alexei and Tata Steel Long Products will also present their results next week.
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The market will also get signals from the macroeconomic data next week. Industrial production and manufacturing for May as well as CPI inflation data for June will be released on Monday, while WPI inflation data will be announced on Wednesday. Balance of trade figures for June will be released on Thursday and foreign exchange return for the week ended July 9 will be given on Friday.
Food delivery company Zomato’s initial public offer will open on July 14. The price band for this is Rs 72-76 per share. Through this, the company plans to raise Rs 9,375 crore.
Apart from this, there will be share allotment for the public offer of GR Infraprojects and Clean Science & Technology in the coming week.
corona virus and vaccination
In the last few months, the impact of the devastation caused by the second wave of corona in the country is now decreasing but the cases of its new variants are increasing. Corona currently has 4,54,118 active cases in the country. The recovery rate from this is 97.20 percent.
According to the data of the Health Ministry, the vaccination against corona in the country has exceeded 37.21 crores.
Investment by Foreign Institutional Investors (FIIs) will be a turning point in the coming week as sell-off by these investors in the past few weeks has halted the market rally. However, domestic institutional investors continue to buy in the market. Last week, FIIs made total sales of over Rs 2,000 crore.
The US Dollar Index, which measures the world’s six major currencies by dollar value, rose to 92.64 on Wednesday after information related to the FOMC, but later fell to 92.1. Brent crude futures are trading at $75-76 per barrel.
The Indian rupee stood at 74.48 against the US dollar on Friday, from 74.51 on the previous Friday.
technical point of view
Nifty50 has formed a Doji pattern on the Daily charts. Its closing on Friday was close to its opening level. Bearish candle is forming on the weekly scale as the closing was below the opening level.
The market has been in a range in the last few weeks. Experts believe that the market can get any direction only when this range is broken.
Apart from this, traders will also be interested in the decisions taken in the AGM of many companies and signals coming from some big countries including America and Japan.