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Stock Analysis, IPO, Mutual Funds, Bonds & More

FII flows, Fed minutes, Aramco IPO among key factors that will guide D-Street this week

Initial public offer for Saudi Aramco opens for subscription on Nov 17 for institutional investors.

, ETMarkets.com|
Updated: Nov 17, 2019, 10.01 AM IST
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The European Central Bank will also release its minutes from the meeting on November 21, Thursday.
NEW DELHI: With Q2 earnings season over, the coming week focus of traders will shift to macroeconomic numbers and developments on trade deal talks between the US and China.

Apart from this, the initial offer by oil giant Saudi Aramco will be open for subscription throughout the week. Traders will also track foreign fund inflows who have largely been bullish on Indian market in November.

Going by the buzz on Dalal Street, here are the key factors that will guide the market this next week:

Aramco IPO
Initial public offer by Saudi Aramco opens for subscription on November 17 for institutional investors. However, for individual investors the issue will open on November 28. The issue is dubbed as the biggest in the world, with estimated valuations as high as $2 trillion. Saudi Aramco plans to sell 0.5 per cent of its shares to institutional investors, individual Saudis and other Gulf nationals.

Indian nationals, who want to invest, can do so via professional wealth managers. They can also use the government’s Liberalised Remittance Scheme (LRS) under which domestic investors are allowed to remit $250,000 during a financial year to another country.

FII inflows
Foreign Institutional Investors (FII) have continued to pour money into Indian equity market, as the benchmark indices traded near all-time highs throughout the week.They invested Rs 8,863.69 crore in the past week in the equity segment, as per data available with NSDL. In November, the net inflow from FIIs stood at Rs 1,4436 crore. If their bullish stance on the market continued this week as well, indices may hit fresh highs.

FOMC minutes
US Federal Reserves will publish minutes of its monetary committee meeting on November 20, Wednesday, which will be tracked by traders. The Fed had cut policy rates in its last meeting and the minutes from the same could give an indication towards its future move. The European Central Bank will also release its minutes from the meeting on November 21, Thursday.

India’s RBI is scheduled to release foreign exchange reserves data for the first fortnight of November on Friday.

Global cues
Marketmen will track a number of important data from across the globe that will indicate the state of the economic health. On Wednesday, Japan will release trade balance data for October, while US will release number on its oil reserves. On THursday, US existing home sales data and numbers on US initial and continuing jobless claims will be out. On Friday, Japan will flash its inflation rate while Japan, Germany, Euro Area, US manufacturing and services PMI data will also be out. The US will also come out with Baker Hughes Rig Count.

Movement in rupee
The domestic currency was choppy last week falling to below 72. In the week the rupee fell 51 paise against the US dollar. Any further depreciation may affect stocks of IT, pharma and other foreign-focussed businesses in the coming week.
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