Market Outlook for the coming week!
Ø Macroeconomic
data, progress of monsoon rains, trend in global markets, investment by foreign
portfolio investors (FPIs) and domestic institutional investors (DIIs), the
movement of rupee against the dollar and crude oil price movement will dictate
trend on the bourses in week ahead. The market may remain range bound and watch
for the global cues amid lack of major domestic triggers.
Ø The progress of
monsoon rains will be closely watched. Indian Meteorological Department (IMD)
on June 06, had raised the forecast of seasonal rainfall by 2% points
over its earlier forecast in April of 96% of long term average.
Ø Meanwhile, many
public offers are lined up next week. Central Depository Services (India)
(CDSL) is coming up with an initial public offering (IPO) of up to 3.51 crore
shares. The company has fixed price band of Rs145 to Rs149 per equity share.
The IPO will open for subscription on June 19, 2017 and closes on June 21,
2017. CDSL was set up with the objective of providing convenient, dependable
and secure depository services at affordable cost to all market participants.
Ø Eris
Lifesciences' IPO of up to 2.88 crore shares will close on June 20, 2017. The
price band of the IPO has been fixed at Rs600 to Rs603 per share. The IPO
opened on June 16, 2017. Eris Lifesciences founded by Amit Bakshi and team in
2007 is one of the fastest growing companies within the chronic and acute
categories of the Indian branded formulations market such as: cardiovascular;
anti–diabetes; vitamins; gastroenterology and gynaecology.
Ø GTPL Hathway is
coming up with an initial public offering comprising of fresh issue of
aggregating up to Rs300 crore and an offer for sale of up to 1.8 crore shares.
The price band of the IPO has been fixed at Rs167 to Rs170 per share. The IPO
will open on June 21, 2017 and close on June 23, 2017. GTPL Hathway is India's
leading cable TV distribution company reaching an estimated 8 million
households in over 169 cities across 10 states in India with presence in
Maharashtra, Gujarat, Rajasthan, West Bengal, Jharkhand, Bihar, Madhya Pradesh,
Andhra Pradesh, Telangana and Assam.
Ø On the global
front, the non-monetary policy meeting of the governing council of the European
Central Bank (ECB) will be held in Frankfurt on June 21, 2017. The general
council meeting of the ECB will be held in Frankfurt on June 22, 2017.
Ø The data on
Nikkei Flash Japan Manufacturing Purchasing Managers' Index (PMI), IHS Markit
Flash France Composite PMI, IHS Markit Flash Germany Composite PMI, IHS Markit
Flash Eurozone Composite PMI and IHS Markit Flash US Composite PMI, the
preliminary surveys indicating health of the manufacturing and services sectors
in the respective regions for June will be announced on June 23, 2017.
Ø The data on
existing home sales tally for June, the number of previously constructed homes,
condominiums and co-ops in which a sale closed during the month in US will be
announced on Wednesday, 21 June 2017. New home sales data for May, measuring
the number of newly constructed homes with a committed sale during the month in
US will be unveiled on June 23, 2017.
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