Mumbai: The week ahead is crowded with events which will have an impact on the stock market. The crucial US Federal Reserve's meeting on November 1-2 followed by the special RBI MPC meet next day are likely to keep the market in unchartered territory.
The US market's positive close on Friday and foreign portfolio investors turning net buyers in the last two trading sessions along with some good second quarter results like Maruti Suzuki’s augur well for the stock market.
Four primary market main board and six SME initial public offerings (IPOs) also open for bidding during the week, starting with DCX Systems, which opens on Monday. Others are Fusion Micro Finance (Wednesday), Medanta hospital chain owner Global Health and Bikaji Foods (both Thursday.)
The SME IPOs opening during the week are from Integrated Personnel, Rite Zone, Vital Chemtech, DAPS Advertising, Technopark Polymer and Amiable Logistics.
The market is also abuzz with speculation of Life Insurance Corporation likely to offer bonus shares and dividend to its shareholders—this may get more clarity when LIC intimates stock exchanges about its Q2 earnings announcement date.
The second quarter earnings to be announced by SBI and global giants in the US during the week and domestic October auto sales will also have stock-specific impacts on the market.