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IPO Market Action: The three companies will cumulatively raise Rs 86.8 crore through their initial public offerings.
On January 17, the market will first react to HCL Technologies and HDFC Bank's earnings that were reported after market hours on January 14 and 15, respectively
Besides, investments by FPIs (Foreign Portfolio Investors) as well as domestic investors, February auto numbers and readings of services and manufacturing sectors' performance last month will be keenly watched by investors. The coronavirus situation in various states, some of which are seeing a spike in infections, will also be a factor.
Markets might also witness volatile trade amid monthly derivatives expiry.
Rising coronavirus infections in Europe had dented market sentiment last week. Concerns over resurgence in coronavirus cases may also play in investors mind going ahead.
Participants would also keep an eye on the spread of the deadly coronavirus in China and other countries, they added. The lethal virus has claimed 56 lives in China, and spread to about a dozen nations.
For the week ahead, traders are likely to react to macro data such as gross domestic product (GDP), GST collections as well as movement on the rupee.
The market is consolidating in a narrow range near its crucial support level, which still warrants some caution as a breakdown could take the index towards even lower levels from here.
