Macroeconomic data, corporate earnings, IPO market activity and institutional flows are likely to be the focus of Dalal Street this week after a week of aggressive central bank actions rocked global markets. LIC’s first share sale to raise up to Rs 21,000 crore – India’s largest public offering ever – will be in the spotlight as the bidding process draws to a close.
Earnings season will remain on investors’ radars as blue chip companies such as Tata Motors, Asian Paints, SBI, Bank of Baroda and Punjab National Bank are set to release their quarterly results.
It also closely follows foreign cash flows and news updates on the Russia-Ukraine war and rising COVID infections in parts of the world.
The week that was
Indian equity benchmarks suffered their biggest weekly loss since November 2021 in the holiday-shortened four-session trading week ending on May 6, falling around four percent each. That was their fourth consecutive weekly loss.
Concerns about worsening inflation and its impact on global growth caused jitters in global markets during the week as major central banks including the RBI tightened pandemic-era monetary policy.
All NSE sectoral gauges ended the week lower. 
Broader markets reflected losses in headline indices.
| index | Weekly Change (%) |
| mid-range 100 | -4.3 |
| Small cap 100 | -6.8 |
As many as 43 Nifty stocks ended the week below zero.
Hero MotoCorp, Hindustan Unilever and Kotak Mahindra Bank were among the few blue chip winners.
Along the road
“In the coming week, the market will follow the inflation numbers around the world. While the numbers will remain high, the chances of a major market reaction are slim as the impact has already been factored in,” said Vinod Nair, head of research at Geojit Financial Services.
He suggests sticking with sectors like banking, IT, pharmaceuticals and green energy.
Here are the key factors and events likely to affect Dalal Street for the week beginning May 9th:
GLOBAL SOURCES
A number of central bankers are due to speak later in the week.
| date | US | Europe | Asia |
| May 9th | Fed official to speak | BoE official speaks | Minutes of the last BoJ policy meeting |
| 10th of May | Four Fed officials speak | BoE official speaks, ECB official speaks | |
| May 11th | Inflation data, Crude Inventory data, two Fed officials to speak | ECB President and two other officials, Germany inflation data | Inflation data from China |
| 12th of May | Unemployment Claims Data | GDP data from UK | |
| May 13th | Two Fed officials speak | Eurozone manufacturing data, two ECB officials speak, France inflation data | Hong Kong GDP data |
DOMESTIC CUE
Separate official data on consumer inflation and factory production (index of industrial production) in the country are due on Thursday, May 12.
merits
Investors await more quarterly earnings reports from India Inc for clues. Here are some notable financial results due this week:
| company | merits |
| Central Bank of India, UPL, PVR, Dalmia Bharat, Infibeam, Gujarat Narmada Valley Fertilizers, Godrej Agrovet, Vedant Fashions (Manyavar) | May 9th |
| Asian Colors, Cipla, Vodafone Idea, MGL, MRF, Chalet Hotels | 10th of May |
| Adani Ports, Punjab National Bank, Indian Bank, Mangalore Refinery, Petronet | May 11th |
| Tata Motors, Aditya Birla Capital, RBL Bank, Apollo Tyres, J&K Bank, CreditAccess, HCC, Ujjivan Small Finance Bank | 12th of May |
| SBI, Tech Mahindra, Eicher, Bank of Baroda, Union Bank of India, Uco Bank, Bandhan Bank, Escorts, Emami | May 13th |
initial public offering
The IPO of state life insurer LIC, valued at up to Rs 21,000 crore, closes on Monday 9th May. Life Insurance Corporation shares will be listed on the BSE and NSE on May 17th.
Campus Activewear shares will list May 9 and Rainbow Children’s Medicare shares will list May 10.
Prudent Corporate Advisory Services’ IPO to raise up to Rs 539 crore will hit the streets on Tuesday.
Two more IPOs will be launched the next day, May 11: Delhivery (Rs 5,235 crore) and Venus Pipes & Tubes (Rs 165 crore).
FII activity
Foreign capital flows will continue to be the focus of Dalal Street. Last week, foreign institutional investors (FIIs) sold Indian shares worth Rs 12,733.5 crore net, although domestic institutional investors (DIIs) made net purchases of Rs 8,533.3 crore, according to preliminary stock market data.
corporate action
| company | ex date | purpose | recording date |
| IndiaMART InterMESH | 10th of May | share buyback | May 11th |
| Laurus Labs | 10th of May | Interim Dividend Rs 1.2 | May 11th |
| APTECH | May 11th | Interim Dividend Rs 5 | 12th of May |
| IRB InvIT Fund | May 11th | Income Distribution (InvIT) | 12th of May |
| Thyrocare Technologies | May 11th | Interim Dividend Rs 15 | 12th of May |
| coastal corp | 12th of May | Interim Dividend Rs 2 | May 13th |
| HDFC bank | 12th of May | Final Dividend Rs 15.5 | May 13th |
| Indian card clothing | 12th of May | Special Dividend Rs 25 | May 13th |
| Health of Procter & Gamble | 12th of May | Interim dividend Rs 41 | May 13th |
| Sinclairs hotels | 12th of May | share buyback | May 13th |
| Vikram Thermo (India) | 12th of May | Bonus edition 4:1 | May 13th |
| Aarnav fashion | May 13th | Interim Dividend Rs 0.5 | 17th of May |
| black box | May 13th | Stock split from Rs 10 to Rs 2 | 17th of May |
| BLS International Services | May 13th | Bonus issue 1:1 | 17th of May |
| Dolfin gummies | May 13th | Bonus edition 1:3 | 17th of May |
| GM Breweries | May 13th | Final dividend Rs 5 | – |
| Indus Towers | May 13th | Interim Dividend Rs 11 | 17th of May |
| OFSS | May 13th | Interim Dividend Rs 190 | 17th of May |
| Sadhna broadcast | May 13th | EGM | – |
| Suven Pharmaceuticals | May 13th | interim dividend | 17th of May |
| Visagar Financial Services | May 13th | EGM | – |
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