Key developments that will drive the markets this week

30 Jan 2022 , 01:37 PM

Domestic markets in the last week remained under pressure for the second consecutive week and lost nearly 3%, tracking feeble global cues. Market participants were keenly awaiting the US FOMC meeting outcome and the news of tightening to start as early as March dented sentiment.

This week is critical, not only for the equity market but for the economy as a whole as Union Budget is scheduled for February 1. With this investors will keep track of Economic Survey, Auto sales, Manufacturing and Services PMI data also scheduled during the week. BPCL, DLF,

Hindustan Petroleum, IOC, Sun Pharma, Tata Motors, Jindal Steel, Tech Mahindra, Dabur, HDFC, ITC, Titan, Divis Lab and Tata Steel will announce their results.

Let us look at the key developments this week.

Economic Survey & Union Budget 2022 to watch out

Finance Minister Nirmala Sitharaman will present the Economic Survey for 2021-22 in Parliament on January 31, Monday, one day before she tables Union Budget 2022. Economic Survey means the government’s take on the ongoing Financial year while also offering glances into the Indian economy’s present state. 

Finance Minister Nirmala Sitharaman will present the Union Budget 2022 in parliament on Tuesday. As this budget, the focus would be on Income Tax sops and slashing of fuel taxes.

Auto sales in focus

Auto companies will report their numbers on February 1. Indian automakers are showing signs of recovery lately, due to the increasing demand for personal transport after the pandemic.

Macroeconomic data to watch out

India’s Markit Manufacturing PMI numbers for January will release on Tuesday, Markit Composite PMI and Services PMI data for January and also Foreign exchange reserves.

Global cues to lookout

Amid ongoing conflict between Russia and Ukraine has kept the global equity markets volatile has put pressure on oil prices due to supply worries. Russia wants the West to promise that Ukraine will not join its Nato defensive alliance, as per media reports.

Quarterly results in focus

Sun Pharma, Tata Motors, Indian Oil Corporation, Adani Ports, Tech Mahindra, Jindal Steel, HDFC, Adani Green Energy, ITC, Titan, Adani Transmission, GAIL, Lupin, Tata Steel, Divi’s Labs and Shree Cements will announce their quarterly results along with several others in this week.

Vedant Fashions IPO to hit the primary market

Vedant Fashions will hit the primary markets on Friday, February 4. Whereas, Adani Wilmar IPO will close for subscription on Monday, January 31. The issue was open on January 27 and has been subscribed 1.13 times during the initial two days of the bidding process. With this AGS Transact Technologies will make its Dalal Street debut on Monday, January 31.