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The Indian equity markets will be influenced by multiple domestic developments, including the annual general meeting of Reliance Industries Ltd., gross domestic product data for April–June and key global indicators like final day of Kansas City Federal Reserve's annual economic symposium in the upcoming week, starting Aug. 26, 2024.
On Aug. 27, a SpaceX rocket is set to launch with the Polaris Dawn spacecraft. The crew will conduct the first-ever commercial spacewalk.
IPOs & Key Levels To Watch
During the week, the primary markets will be focused on the two main board issues and public offerings bought out by five small and medium-sized firms. The key offerings of Ecos (India) Mobility & Hospitality Ltd.and Premier Energies Ltd. will be available for subscription.
The NSE Nifty 50 was trading sideways at a consolidated level on Friday, according to Brijesh Singh, senior technical analyst at Opulent Investment Adviser Pvt.
Brijesh Singh highlighted that the trend of the index remains positive and seems unlikely at the moment that it will break through the 24,700 mark. "It is expected to hold steady, with support at the 24,600 level."
Singh said that the immediate resistance for Nifty 50 lies at 24,920/30. "The trend has been positive and if we are surpassing the level of 24,930 mark, then we would be making a new high and entering the zone of 25,300/350."
FTSE Announces Semi-Annual Index Review Changes
Domestic Cues
The India Gold Conference, in partnership with the India Bullion and Jewellers Association, will commence its second day at the start of the week in Bengaluru.
Reliance Industries Ltd. will hold its 47th annual general meeting on Aug. 29. Chairman Mukesh Ambani will address the shareholders during the AGM.
The Ministry of Commerce will release the core sector output data for July on Aug. 30.
The Controller General of Accounts of India will provide government finance data on its website, and the National Statistical Office will release the gross domestic product data for April to June on the last trading day of the week.
Global Cues
The upcoming week marks the conclusion of the Kansas City Fed's annual economic meeting in Jackson Hole, Wyoming. The chief economist of the European Central Bank, Philip Lane, will be among the speakers.
The US will announce its gross domestic product data along with initial jobless claims and merchandise trade data.
Nvidia will declare its earnings after a mostly disappointing season for the technological companies or the so-called 'Magnificent Seven'.
The Paralympic Games 2024 will begin in Paris on Aug. 28 and will run through Sept. 8. It involves more than 4,000 athletes with a range of disabilities competing in 22 sports.
SpaceX is set to launch with the Polaris Dawn spacecraft. The crew will conduct the first ever commercial spacewalk.
Primary Market Action
With two mainboard and five SME public issues set to open for bids next week, the primary markets will remain in focus during the week. The IPOs from Ecos (India) Mobility and Hospitality Ltd.and Premier Energies Ltd. will open for subscriptions on the mainboard space.
Archit Nuwood Industries Ltd. and Aeron Composite Ltd. are among those receiving bids in the SME segment during the week.
Shares of Brace Port Logistics Ltd., Forcas Studio Ltd. and Interarch Building Products Ltd. will list on the exchanges on Aug. 26.
Corporate Action Ahead
Manappuram Finance Ltd., Jindal Stainless Ltd., NCC Ltd., Oil India Ltd., Quick Heal Technologies Ltd., Manorama Industries Ltd.will be the big names that have record dates for their interim or final dividends in the coming week.
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