Dalal Street Week Ahead: BoE meeting, FIIs mood among key factors to watch | Stock market forecast to rise next week: From domestic economic data, BoE meeting to FII-DII flows; These factors will decide the movement of the market

There may be a rise in the stock market next week. The market will keep an eye on domestic economic data, BOE meeting, global economic data, FII-DII flows and upcoming IPO.

However, the market will remain closed on the first day of the trading week i.e. Monday (June 17) due to Bakri Eid holiday. Here we are telling about such factors, which will decide the movement of the market in the next trading week starting from June 18…

1. Domestic Economic Data
Talking about domestic economic data, HSBC India will release PMI Manufacturing, Composite and Services data for June on June 21, which the market will keep an eye on.

2. BoE meeting
Central banks around the world are thinking about joining the global interest rate cut trend. Important decisions are expected from advanced economies like UK and Australia this week.

Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services, said, ‘Domestic markets will remain closed on Monday, while investors at the global level will keep an eye on the Bank of England’s decision regarding interest rates.’

The Bank of England, facing upcoming elections and ever-increasing price pressure, may delay interest rate cut until at least August. Similarly, Australia and Norway are in no hurry to cut interest rates, while the Economist suggests that the Swiss National Bank may hold off on further cuts after the previous move in March.

Monetary policies differ at the global level, with Brazil and Paraguay expected to keep interest rates on hold, while Chile may ease by cutting interest rates.

3. Global Economic Data
Investors will keep an eye on US Retail Sales, Industrial Production for May, Initial Jobless Claims for the week ending June 14, S&P Global Manufacturing and Services PMI Flash for June. Apart from this, the market will also keep an eye on the sales of existing homes for May, while investors will also focus on the UK BoE interest rate decision next week.

4. FII-DII Flow
Next week, the market will keep an eye on the activities of Foreign Institutional Investors (FII). FIIs have turned buyers for some time after being net sellers since the beginning of May. In the last 5 sessions, FIIs have purchased more than Rs 10,000 crore in Indian equities.

FIIs had sold shares worth about $3 billion in May and have sold shares worth about $624 million so far in June. Domestic Institutional Investors (DII) maintained strong investment and bought around Rs 6000 crore last week and a total of Rs 2.17 lakh crore so far this year.

Experts believe that if the market falls, DII and retail investors will adopt the strategy of buying on dips. Continuous investment in mutual funds and buying by retail investors during downturns can keep the market positive.

5. Initial Public Offering (IPO)
Three mainboard IPOs worth Rs 1087 crore will open next week. The Rs 418 crore DEE Development IPO will be open for subscription from June 19 to June 21. Its price band has been fixed at Rs 193-203 per share.

Acme Fintrade India’s Rs 121 crore IPO will also open on June 19 and close on June 21. Apart from this, Stanley Lifestyle IPO of Rs 369 crore will open on June 21 and close on June 25.

Sensex rose by 0.57% in the last week
There was a rise of 0.57% in the Sensex in the last entire trading week. Nifty also had a rise of 0.28%. On the last trading day of the week, Friday i.e. June 14, there was a rise in the stock market.

Nifty had made a new all time high
Nifty had made a new all time high. It had touched the level of 23,490 during trading. However, after this Nifty came down slightly and closed at 23,465 with a gain of 66 points.

At the same time, there was a rise of 181 points in Sensex, it closed at the level of 76,992. There was a fall of 200 points in the morning. Out of 30 Sensex stocks, 15 saw a rise and 15 saw a fall.

Midcap-smallcap also at all-time high
BSE’s midcap and smallcap indices also reached all-time highs. Midcap index had made a high of 46,088 during trading. Whereas small cap had reached the level of 51,259. The auto sector had the highest increase of 1.30%.