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Lenskart listing, Infosys buyback and FII trends among 7 factors to steer markets this week
The Economic Timesยท 2025-11-09 04:19
Market Overview - Nifty closed at 25,492.30, down 17.40 points or 0.07%, indicating near-term weakness as it trades below the 50EMA [1][19] - The index has been declining since forming a double top around 26,100, with crucial resistance at 25,600 and support at 25,400 [2][19] Earnings Season - More than 2,500 BSE listed companies are set to announce their Q2 earnings this week, including major Nifty companies like Bajaj Finance, Bajaj Finserv, Tata Steel, and Eicher Motors [6][19] - Notable non-Nifty companies reporting include Vodafone Idea, Fortis Healthcare, and Hero MotoCorp [7][19] US Market Influence - The Nasdaq Composite closed at 23,004.50, down 49.46 points or 0.22%, marking its largest weekly percentage drop since early April, which may influence domestic markets [8][19] IPO Activity - Four mainboard IPOs are expected this week: PhysicsWallah, Tenneco Clean Air India, Emmvee Photovoltaic Power, and Fujiyama Power Systems, with bidding for Pine Labs concluding on Tuesday [9][10][19] - In the SME segment, new public issues will launch, and ongoing issues will close this week [10][19] Corporate Actions - Over 60 companies are scheduled for record dates related to interim dividends, bonus issues, buybacks, spin-offs, and stock splits this week [11][19] - Infosys is expected to be active ahead of its buyback record date on November 14 [11][19] FII/DII Activity - Foreign Institutional Investors (FIIs) were net buyers with purchases of Rs 4,581.34 crore, while Domestic Institutional Investors (DIIs) were net buyers at Rs 6,674.77 crore [13][19] Technical Analysis - Nifty is undergoing a retracement with key support at 25,160 and resistance at 25,700, indicating a potential 'buy on dips' strategy as long as it holds above 25,160 [15][19] Currency Movement - The Indian rupee settled at 88.66 against the U.S. dollar, slightly down from the previous session but up 0.1% for the week, supported by RBI interventions [16][19] - Ongoing uncertainty in U.S.-India trade negotiations may keep the rupee under pressure [17][19]