Week Ahead: Macro data, IPO action, FII activity, global cues among key market triggers this week

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global market cues including US bond yields, crude oil prices, and performance in US markets. Domestic markets extended their bullish tone for the third successive week and gained over a per cent. The beginning was downbeat but the bias changed in the following sessions with a surge in the US markets.

The NSE Nifty 50 index gained 1.58 per cent this week, its best in two months, while the Sensex rose 1.37 per cent. Stocks of IT companies, which earn a significant share of their revenue from the US, climbed 5.07 per cent, their best week in 16 months. The more domestically-focussed small- and mid-caps hit fresh record highs, and outperformed the benchmarks on the week, aided by retail inflows.

Shares of banks and NBFC firms fell sharply after the Reserve Bank of India (RBI) tightened norms for consumer credit as it asked them to assign a higher risk weight for unsecured personal loans, a move aimed at making the lenders more cautious about such advances. On Friday, frontline indices indices ended in red over weak cues from the Asian markets and witnessed extremely volatile trading trends. However, the broader market outperformed the benchmark indices in the session.

Also Read: These 50 smallcap stocks rose 15-50% as Sensex logs third weekly gain led by IT; do you own? The 30-share BSE Sensex ended lower by 187.75 points or 0.28 per cent at 65,794.73 level while the Nifty 50 closed at 19,731.80 level, down 33.40 points or 0.17 per cent. The broader market closed inched higher than the benchmark indices on Friday's session, the Nifty Midcap 100 closed 0.20 per cent higher and Nifty Smallcap ended flat or 0.09 per cent higher. "The domestic markets ended the week on a positive note, buoyed by global cues and favourable