Sensex, Nifty this week: Dalal Street to keep watch on CPI, WPI, US core inflation for cues
==========
Throughout the week, the Indian markets largely exhibited a downward trend, signalling an emerging pattern where investors are opting to sell during rallies. India’s headline retail inflation data (CPI), Wholesale Price Index (WPI), bank loan and deposit growth, US Fed Chair Powell’s speech, and US core inflation rate are some of the major events that will keep the markets buzzing. In the coming week, investors will be eyeing major macro-economic data for more cues starting with the Consumer Price Index (CPI) or headline retail inflation data for April, which will be out on May 13. On May 14, market participants will be watching for the Wholesale Price Index (WPI) data for April. The Exports and Imports data and Passenger Vehicles data are awaited on May 15. Further, investors will be eyeing data on Bank Loan and Deposit growth, and Foreign Exchange Reserves on May 17. In the last leg of ongoing result season, traders will be eyeing earnings of the remaining prominent companies, including Tube Investments of India, Aditya Birla Capital, BASF India, Shree Cements, Radico Khaitan, V-Mart Retail, Power Finance Corporation, Rail Vikas Nigam, LIC Housing Finance, Granules India, Trident, Hindustan Aeronautics, Biocon, Crompton Greaves Consumer Electrical, JSW Steel, Atul Auto, NHPC, TV Today Network, and Mindteck (India). On the global front, investors would be eyeing some important economic data from the world’s largest economy, the US, starting with Consumer Inflation Expectations on May 13. On the same day, investors will be looking for Fed Vice Chair Jefferson’s speech for more directional cues. Producer prices in the US and Fed Chair Powell’s speech are expected on May 14. Core Inflation Rate, Retail Sales, and EIA Crude Oil Stocks will be released on May 15, Initial Jobless Claims, Export and Import prices, Industrial Production on May 16 and Baker Hughes Oil Rig Count on May 17 will also be keenly watched. Deepak Jasani, Head of Retail Research at HDFC Securities said, Nifty gained for the day but logged its worst week in nearly two months on May 10 as nervous election-related reports continued albeit at a slower pace. Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, said the Bank Nifty index remained under a bear grip while encountering resistance at elevated levels.
#Sensex #Nifty #DalalStreet #Cpi #Wpi #UsCoreInflation #IndianMarkets #RetailInflation #MacroeconomicData #Earnings #UsMarketData #TechnicalOutlook #Nifty #BankNifty
https://www.businesstoday.in/markets/market-perspective/story/sensex-nifty-this-week-dalal-street-to-keep-watch-on-cpi-wpi-us-core-inflation-for-cues-429251-2024-05-12
Business Today /
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2024-05-12 09:37:04
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2024-05-12 09:37:04Event JSON
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"content": "Sensex, Nifty this week: Dalal Street to keep watch on CPI, WPI, US core inflation for cues\n==========\n\nThroughout the week, the Indian markets largely exhibited a downward trend, signalling an emerging pattern where investors are opting to sell during rallies. India’s headline retail inflation data (CPI), Wholesale Price Index (WPI), bank loan and deposit growth, US Fed Chair Powell’s speech, and US core inflation rate are some of the major events that will keep the markets buzzing. In the coming week, investors will be eyeing major macro-economic data for more cues starting with the Consumer Price Index (CPI) or headline retail inflation data for April, which will be out on May 13. On May 14, market participants will be watching for the Wholesale Price Index (WPI) data for April. The Exports and Imports data and Passenger Vehicles data are awaited on May 15. Further, investors will be eyeing data on Bank Loan and Deposit growth, and Foreign Exchange Reserves on May 17. In the last leg of ongoing result season, traders will be eyeing earnings of the remaining prominent companies, including Tube Investments of India, Aditya Birla Capital, BASF India, Shree Cements, Radico Khaitan, V-Mart Retail, Power Finance Corporation, Rail Vikas Nigam, LIC Housing Finance, Granules India, Trident, Hindustan Aeronautics, Biocon, Crompton Greaves Consumer Electrical, JSW Steel, Atul Auto, NHPC, TV Today Network, and Mindteck (India). On the global front, investors would be eyeing some important economic data from the world’s largest economy, the US, starting with Consumer Inflation Expectations on May 13. On the same day, investors will be looking for Fed Vice Chair Jefferson’s speech for more directional cues. Producer prices in the US and Fed Chair Powell’s speech are expected on May 14. Core Inflation Rate, Retail Sales, and EIA Crude Oil Stocks will be released on May 15, Initial Jobless Claims, Export and Import prices, Industrial Production on May 16 and Baker Hughes Oil Rig Count on May 17 will also be keenly watched. Deepak Jasani, Head of Retail Research at HDFC Securities said, Nifty gained for the day but logged its worst week in nearly two months on May 10 as nervous election-related reports continued albeit at a slower pace. Kunal Shah, Senior Technical \u0026 Derivative Analyst at LKP Securities, said the Bank Nifty index remained under a bear grip while encountering resistance at elevated levels.\n\n#Sensex #Nifty #DalalStreet #Cpi #Wpi #UsCoreInflation #IndianMarkets #RetailInflation #MacroeconomicData #Earnings #UsMarketData #TechnicalOutlook #Nifty #BankNifty\n\nhttps://www.businesstoday.in/markets/market-perspective/story/sensex-nifty-this-week-dalal-street-to-keep-watch-on-cpi-wpi-us-core-inflation-for-cues-429251-2024-05-12",
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