Corporate earnings, global cues including key interest rate decisions by major central banks and any wild movement in crude oil, and foreign institutional flows will likely dictate the trend on Dalal Street this week. The rupee — which has hit a series of lows against the US dollar — will continue to be on investors' radar.
Investors will return to trade on Monday reacting to HDFC Bank's financial results announced during the weekend. A slew of blue-chip earnings are due this week, including Reliance, Wipro, UltraTech, JSW Steel, Kotak Mahindra Bank and ICICI Bank.
The week that was
Last week, Indian equity benchmarks fell more than one percent — halting a three-week winning run — dragged by IT shares though gains in auto and pharma lent some support. The Nifty IT — which tracks the performance of 10 major software exporters in the country including TCS, Infosys and Wipro — suffered its worst weekly cut in a month. The IT index also fell after three back-to-back weekly gains.
A total of 25 stocks in the Nifty50 basket rose for the week.
Broader markets were a mixed bag at the end of the week.| Index | Weekly change (%) |
| Nifty Midcap 100 | 1.3 |
| Nifty Smallcap 100 | -0.1 |
The road ahead
"Investors will continue to monitor quarterly earnings and the movement in the rupee. The key global events this week include an EU inflation reading and ECB's interest rate decision," said Sumeet Bagadia, Executive Director at Choice Broking.
Technical view
Samco Securities' Head of Market Perspectives, Apurva Sheth, believes the market continues to be oversold.
He expects the Nifty50 to remain above 15,800. "It may even approaching the 17,000 zone. The current levels of immediate support and resistance are at 15,500 and 16,300 respectively," he said.
Here are the key factors and events that are likely to influence Dalal Street in the week beginning July 18:
DOMESTIC CUES
Corporate earnings
| Date | Company |
| July 18 | Bank of Maharashtra |
| July 19 | Ambuja Cements, Hindustan Unilever, HDFC Life, ICICI Lombard General Insurance, L&T Finance Holdings, Rallis, Polycab |
| July 20 | Wipro, Havells, IndusInd, Gland Pharma, CEAT, Tata Communications |
| July 21 | CSB Bank, JSW Energy, Mphasis, Persistent, Crisil, Can Fin Homes, Cyient, Happiest Minds, Hindustan Zinc, IDBI Bank, IndiaMART InterMESH, PVR |
| July 22 | Reliance Industries, UltraTech, Bandhan, Coforge, HDFC AMC, JSW Steel, Crompton Greaves Consumer, Mahindra CIE |
| July 23 | Kotak Mahindra Bank, ICICI Bank |
FII activity
The flow of institutional investors' money will remain in focus on Dalal Street.
Foreign institutional investors (FIIs) net sold Indian shares worth Rs 5,916 crore last week, according to provisional exchange data. Domestic institutional investors (DIIs), on the other hand, made net purchases to the tune of Rs 2,146 crore.
Corporate action
| Company | Ex date | Purpose | Record date | BC Start Date |
| Blue Dart | 18-Jul-22 | Final dividend Rs 35 | - | 20-Jul-22 |
| Laxmi Organic Industries | 18-Jul-22 | Final dividend Re 0.7 | 19-Jul-22 | |
| Swastika Investmart | 18-Jul-22 | Final dividend Rs 2 | - | 20-Jul-22 |
| Aegis Logistics | 19-Jul-22 | Final dividend Re 0.5 | 20-Jul-22 | |
| Federal Bank | 19-Jul-22 | Final dividend Re 1.8 | - | 21-Jul-22 |
| Goodricke Group | 19-Jul-22 | Dividend Rs 3 | 20-Jul-22 | |
| Granules | 19-Jul-22 | Final dividend Re 0.75 | - | 21-Jul-22 |
| Grindwell Norton | 19-Jul-22 | Dividend Rs 12 | - | 21-Jul-22 |
| HCL Tech | 19-Jul-22 | Interim dividend Rs 10 | 20-Jul-22 | |
| Heranba Industries | 19-Jul-22 | Final dividend Rs 2 | - | 21-Jul-22 |
| Karur Vysya Bank | 19-Jul-22 | Dividend Re 1.6 | - | 21-Jul-22 |
| Mahindra Lifespace | 19-Jul-22 | Final dividend Rs 2 | - | 21-Jul-22 |
| Dollar Industries | 20-Jul-22 | Dividend Rs 3 | - | 22-Jul-22 |
| M&M Financial | 20-Jul-22 | Dividend Rs 3.6 | - | 22-Jul-22 |
| NOCIL | 20-Jul-22 | Final dividend Rs 3 | - | 22-Jul-22 |
| Novartis | 20-Jul-22 | Final dividend Rs 10 | - | 22-Jul-22 |
| Orient Cement | 20-Jul-22 | Final dividend Re 1.75 | - | 22-Jul-22 |
| Tata Metaliks | 20-Jul-22 | Final dividend Rs 8 | - | 22-Jul-22 |
| Tube Investments | 20-Jul-22 | Final dividend Re 1.5 | - | 22-Jul-22 |
| V-Guard Industries | 20-Jul-22 | Final dividend Re 1.3 | - | 22-Jul-22 |
| Angel One | 21-Jul-22 | Interim dividend Rs 7.65 | 22-Jul-22 | |
| Blue Start | 21-Jul-22 | Final dividend Rs 10 | 22-Jul-22 | |
| Carborundum Universal | 21-Jul-22 | Final dividend Rs 2 | - | 25-Jul-22 |
| Cholamandalam Investment and Finance Company | 21-Jul-22 | Final dividend Re 0.7 | - | 25-Jul-22 |
| Dabur | 21-Jul-22 | Final dividend Rs 2.7 | - | 25-Jul-22 |
| Dhanuka Agritech | 21-Jul-22 | Final dividend Rs 6 | - | 23-Jul-22 |
| HG Infra Engineering | 21-Jul-22 | Final dividend Rs 1 | 22-Jul-22 | |
| Intellect Design Arena | 21-Jul-22 | Final dividend Rs 2.5 | 22-Jul-22 | |
| L&T | 21-Jul-22 | Final dividend Rs 22 | 22-Jul-22 | |
| Mahindra Logistics | 21-Jul-22 | Final dividend Rs 2 | - | 23-Jul-22 |
| Minda Corporation | 21-Jul-22 | Final dividend Re 0.7 | - | 25-Jul-22 |
| Tech Mahindra | 21-Jul-22 | Final dividend Rs 15 | - | 23-Jul-22 |
| Tech Mahindra | 21-Jul-22 | Special dividend Rs 15 | - | 23-Jul-22 |
| Thermax | 21-Jul-22 | Dividend Rs 9 | 22-Jul-22 | |
| TTK Prestige | 21-Jul-22 | Final dividend Rs 3.5 | - | 23-Jul-22 |
| Bajaj Consumer Care | 22-Jul-22 | Final dividend Rs 4 | - | 26-Jul-22 |
| Godrej Agrovet | 22-Jul-22 | Final dividend Rs 9.5 | - | 26-Jul-22 |
| Goodyear | 22-Jul-22 | Final dividend Rs 20 | - | 26-Jul-22 |
| Goodyear | 22-Jul-22 | Special dividend Rs 80 | - | 26-Jul-22 |
GLOBAL CUES
| Date | US | Europe | Asia |
| July 18 | BoE Member Michael Saunders to speak | ||
| July 19 | UK unemployment data, Eurozone construction and inflation data, Bank of England Governor Andrew Bailey to speak | Hong Kong unemployment rate | |
| July 20 | Fed official Lael Brainard to speak, crude oil stockpiles data, home sales data | UK inflation data, Eurozone consumer confidence data | |
| July 21 | Jobless claims data | ECB interest rate decision, ECB President Christine Lagarde to speak, France business confidence data | Bank of Japan interest rate decision, Hong Kong inflation data |
| July 22 | Manufacturing and services PMI data | UK retail sales, France services and manufacturing PMI data, Germany services and manufacturing PMI data, Eurozone services and manufacturing PMI data | Japan inflation data, Japan manufacturing and services PMI data |
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First Published: Jul 17, 2022 11:05 PM IST
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