Week Ahead: Q2 results, inflation data, global cues among key market triggers next week

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Also Read: India's bond yield posts biggest single-day jump in 17 months; What's fuelling the rise? On Friday, October 6, Nifty 50 closed at 19,653.50, up 108 points, or 0.55 per cent while Sensex closed 364 points, or 0.55 per cent, higher at 65,995.63. The BSE Midcap index rose 0.66 per cent while the smallcap index ended 0.56 per cent higher. Global cues were also positive after a pause in a bond market sell-off.

The 10-year US bond yields were near 4.74 when the Sensex closed on Friday. The dollar was steady and looked set to end the week with gains. For the week, the Sensex rose by 0.25 per cent while the Nifty 50 inched up by 0.08 per cent.

On the other hand, the BSE Midcap index fell 0.81 per cent this week while the smallcap index moved up by 0.79 per cent. India’s 10 year bond yield rose the most in 17 months and stood at 7.32 per cent after RBI Governor announced that the regulator will conduct open market operations (OMO) through auctions to manage liquidity. ‘’The RBI's hawkish stance, particularly in its management of liquidity to counter inflationary risks, has further impacted the market, leading to an increase in India's 10-year bond yield.

However, the market found some support from strong domestic PMI data and corrections in crude oil prices, which have helped it overcome the weak trend observed in the previous three weeks,'' said Vinod Nair, Head of Research at Geojit Financial Services. Going forward, a buzzing week awaits the primary market on several new listings slated across mainboard and small-and-medium enterprises (SME) segments. The week will be crucial from the domestic and technical point of view as investors have shifted their focus to the Q2FY24 results - beginning with IT and banks.