The Indian Stock Markets will witness an action-pack week from Monday as multiple developments are likely to shape up. From US India Trade Talks on Monday to Reserve Bank of India (RBI) policy decisions on Friday, the week will have multiple triggers for the markets.
Trading activity of foreign investors to the rupee-dollar trend will also act as key drivers for equities.
India-US Trade Talks:
The four-day talks between India and the United States (US) are set to being on Monday. Chief negotiators from both the countries are set to meet to finalise the details of the interim trade pact.
The US team will be led by its chief negotiator Brendan Lynch while India’s chief negotiator is Darpan Jain, Additional Secretary in the Department of Commerce.
Manufacturing PMI:
The final HSBC Manufacturing PMI reading for May will also be announced on Monday. This will provide important insights into demand trends.
Further, Services PMI and Composite PMI data is also set to be released on Wednesday.
Key IPOs:
The markets are also set to witness the launch of key Initial Public Offerings (IPOs) next week with CMR Green Technologies and Hexagon Nutrition collectively valued at nearly Rs 770 crore.
CMR Green Technologies will open for public subscription during June 3-5 with the price band of Rs 182-192 per equity share for its Rs 630.62-crore IPO.
Hexagon Nutrition will open for subscription on June 5, and the company has set a price band of Rs 42-45 per equity share for its Rs 139-crore public issue.
RBI Policy Announcement:
The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) is set to announce the key policy decisions on Friday. Economists are of mixed view of the decision this time with some expect rate hike while other believe the apex bank will keep its key interest rate unchanged at 5.25%.
On Friday, the Indian Stock markets ended into deep red erasing nearly Rs 5 lakh crore in investor wealth in a single session. Sensex plunged 1,092 points to settle at 74,775.74, while the NSE Nifty 50 slid more than 359 points to close at 23,547.75.
