Jan 6-12 stock market watch | IPOs, fiscal data that could sway markets
The week will see the rollout of key macroeconomic data such as the Services PMI for December 2024, GDP rate estimates for FY25, and US jobless numbers;
By : K Giriprakash
Update: 2025-01-06 00:30 GMT
The current week — January 6 to 12 — will see the rollout of key macroeconomic numbers such as the Services PMI (Final) - December 2024, the nation's GDP rate estimates for FY25, and America's Initial Jobless Claims.
The other factors that may move the stock markets are the initial public offerings such as those of Indobell Insulation and Delta Autocorp.
Economic data releases
Services PMI (Final) - December 2024
The final figures for the December Services PMI are set to be released on January 6, 2025. Preliminary estimates indicate a strong reading of 60.8, reflecting robust growth in the services sector.
This figure could represent the highest level of expansion since August 2024 and marks the 41st consecutive month of growth in services activity. The increase is projected attributed to a significant rise in new orders, leading to notable job creation and heightened business optimism among private-sector companies.
The moderation in cost pressures has also contributed to easing charge inflation, suggesting a positive outlook for service providers moving forward.
India's GDP growth rate
The advance estimates for India's GDP for the financial year 2024-25 will be released on January 7, 2025. The previous year's growth rate was revised to 8.2 per cent, confirming India's position as the fastest-growing major global major economy.
Analysts predict that the GDP growth rate for 2024-25 will remain robust, with estimates ranging from 6.4 per cent to 6.6 per cent amidst ongoing global uncertainties and inflationary pressures.
EIA crude oil stocks change
The US Energy Information Administration (EIA) will release crude oil stock data for the week ending January 3 on January 8, 2025. Recent trends indicate a decrease in crude oil stocks, with a notable drop of 4.3 million barrels reported previously.
This decline reflects ongoing challenges in balancing supply and demand, particularly as market expectations suggest a potential surplus in the upcoming year.
FOMC minutes
The Federal Open Market Committee (FOMC) will publish minutes from its December 2024 meeting on January 9, 2025. These minutes are anticipated to provide insights into recent monetary policy decisions and the US Fed's outlook on economic conditions, which could influence market sentiment and expectations regarding future interest rate adjustments.
US initial jobless claims
On January 9, the weekly report on initial jobless claims in the US will be released, covering data up to January 4.
This report is crucial for assessing labour market conditions and economic health, as fluctuations in jobless claims can signal changes in employment trends.
India Industrial Production (November)
The Index of Industrial Production (IIP) for November 2024 will be released on January 10, providing insights into industrial activity following October's year-on-year growth of 3.5%.
This data will be vital for understanding manufacturing and industrial output trends within the Indian economy.
IPO listings
Indobell Insulation IPO
Opening on January 6, this SME IPO aims to raise ₹10.14 crore through a fixed-price issue at ₹46 per share. The offer will close on January 8.
Standard Glass Lining Technology IPO
The first mainboard public issue of the year, this IPO opens on January 6. The company, which manufactures engineering equipment for the pharmaceutical and chemical sectors, has already secured ₹123.02 crore from anchor investors on January 3.
The ₹410.05 crore IPO features a price band of ₹133-140 per share and comprises a fresh issue of ₹210 crore and an offer-for-sale of 1.42 crore shares. The subscription closes on January 8.
BR Goyal Infrastructure IPO
Scheduled to open on January 7, this ₹85.21 crore IPO has a price band of ₹128-135 per share. The subscription will end on January 9.
Quadrant Future Tek IPO
Opening January 7, this IPO targets ₹290 crore through a fully fresh issue. The company, which specialises in next-generation train control and signalling systems under the Indian Railways' KAVACH project, has a price band of ₹275-290 per share. The subscription closes on January 9.
Capital Infra Trust IPO
This ₹1,578 crore infrastructure investment trust, sponsored by Gawar Construction, opens on January 7. It comprises a fresh issue of ₹1,077 crore and an offer-for-sale of ₹501 crore, with a price band of ₹99-100 per unit. The issue will close on January 9.
Delta Autocorp IPO
Opening January 7, this electric two- and three-wheeler maker plans to raise ₹54.6 crore. The IPO includes a fresh issue of ₹50.54 crore and an offer-for-sale of ₹4.06 crore, with a price band of ₹123-130 per share. The subscription ends on January 9.
Avax Apparels and Ornaments IPO
The smallest IPO of the week, this fixed-price public issue aims to raise ₹1.92 crore at ₹70 per share. The subscription opens and closes between January 7 and January 9.
IPOs closing this week
Parmeshwar Metal and Davin Sons Retail IPOs
These IPOs, subscribed 41.96 times and 11.95 times, respectively, will close on January 6.
Fabtech Technologies Cleanrooms IPO
Closing on January 7, this IPO saw a subscription of 18.46 times on the first day of bidding.