Corporate advance tax data, macroeconomic data, trend in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), the movement of rupee against the dollar and crude oil price movement will dictate trend on the bourses in the coming week. Next week is a truncated trading week. Stock markets remain closed on Thursday, 17 September 2015, on account of Ganesh Chaturthi.
The second installment of advance tax for the current financial year ending 31 March 2016 due this month could provide clues on Q2 September 2015 corporate earnings. The deadline for payment of this installment of the advance tax is Tuesday, 15 September 2015.
Shares of public sector oil marketing companies (PSU OMCs) will be in focus as a regular fuel price review is due during the middle of the month. PSU OMCs review fuel prices twice a month based on the trend in international oil market and currency movement. The first review takes place during the middle of the month and the last review at the month-end.
On Monday, 14 September 2015, India's stock market will react to the industrial production data data for July 2015, which will be unveiled by the government after market hours on Friday, 11 September 2015. Industrial production rose at an accelerated pace of 3.8% in June 2015 compared with the revised growth of 2.5% in May 2015.
Among other key macro economic data, the government is scheduled to unveil the consumer price index (CPI) data for the month of August 2015 after market hours on Monday, 14 September 2015. The all-India general CPI inflation dipped to 3.78% in July 2015 from 5.4% in June 2015.
The government will release the data on inflation based on the wholesale price index (WPI) for August 2015 during market hours on Monday, 14 September 2015. The WPI inflation continued to be in negative zone for the ninth straight month in July 2015. It stood at negative 4.05% in July 2015.
On global front, the policy decision by the US Federal Reserve will be closely watched. The Federal Open Market Committee (FOMC) holds a two-day policy meeting on 16-17 September 2015 to decide whether to raise the benchmark US interest rate from current near zero level. A hike in interest rate in the US is likely to drain liquidity from emerging markets like India and redirect it to developed economies.
On Monday, 14 September 2015, Asian markets will react to key China macro economic data. In China, industrial production, retail sales and home sales data for August will be announced on Sunday, 13 September 2015.
The Organization of Petroleum Exporting Countries (OPEC) publishes its Monthly Oil Market Report on Monday, 14 September 2015. The report provides a detailed analysis of key developments impacting oil market trends in world oil demand, supply as well as the oil market balance.
On Tuesday, 15 September 2015, the Bank of Japan will announce monetary policy at the end of a two-day meeting in Tokyo. On the same day, the Federal Reserve will release the US industrial production data for August
In Europe, the euro zone inflation data for September will be released on Wednesday, 16 September 2015.