Market will take cues from quarterly earnings of TCS, Infosys; Global trends this week: Analyst
New Delhi: Trading in the stock markets this week will be mainly influenced by the upcoming quarterly earnings from IT heads tcs And InfosysIn line with global trends, analysts said. Apart from this, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors will also decide the move, he said.
“On the domestic front, all eyes will be on the corporate performance debut for the third quarter of the current financial year. Market participants will be keeping an eye on the movement of the rupee against the dollar and crude oil prices.
“Investments by foreign institutional investors (FIIs) and domestic institutional investors (DIIs) will also be monitored,” said Pravesh Gaur, senior technical analyst, Swastika Investmart Ltd.
Infosys and Tata Consultancy Services (TCS) will announce their quarterly results on Thursday. hcl technology and wipro Will be out on Friday.
Sunny Aggarwal, Head of Fundamental Equity Research, SBI Securities Ltd, said the third quarter results season, which will begin from the second week of January, is the immediate key factor to keep an eye on.
On the macroeconomic front, inflation data for December and industrial production data for November are scheduled to be announced after the market on Friday.
“The market will react to domestic and global macroeconomic data, global bond yields, crude oil inventories, dollar index movements, FII and DII investment activities,” said Arvinder Singh Nanda, senior vice-president, Master Capital Services Ltd.
Nanda said US inflation data, initial jobless claims, China inflation data and UK GDP will also be monitored.
Last week, BSE The benchmark fell 214.11 points or 0.29 per cent and the Nifty fell 20.6 points or 0.09 per cent.
Siddharth Khemka said, “We expect the market to take cues from the upcoming earnings season, which will be kicked off by TCS and Infosys on January 11. HCL Tech, Wipro and HDFC Life are some of the others that will declare their results this week.” , Head – Retail Research, Motilal Oswal Financial Services Ltd., said.
“On the domestic front, all eyes will be on the corporate performance debut for the third quarter of the current financial year. Market participants will be keeping an eye on the movement of the rupee against the dollar and crude oil prices.
“Investments by foreign institutional investors (FIIs) and domestic institutional investors (DIIs) will also be monitored,” said Pravesh Gaur, senior technical analyst, Swastika Investmart Ltd.
Infosys and Tata Consultancy Services (TCS) will announce their quarterly results on Thursday. hcl technology and wipro Will be out on Friday.
Sunny Aggarwal, Head of Fundamental Equity Research, SBI Securities Ltd, said the third quarter results season, which will begin from the second week of January, is the immediate key factor to keep an eye on.
On the macroeconomic front, inflation data for December and industrial production data for November are scheduled to be announced after the market on Friday.
“The market will react to domestic and global macroeconomic data, global bond yields, crude oil inventories, dollar index movements, FII and DII investment activities,” said Arvinder Singh Nanda, senior vice-president, Master Capital Services Ltd.
Nanda said US inflation data, initial jobless claims, China inflation data and UK GDP will also be monitored.
Last week, BSE The benchmark fell 214.11 points or 0.29 per cent and the Nifty fell 20.6 points or 0.09 per cent.
Siddharth Khemka said, “We expect the market to take cues from the upcoming earnings season, which will be kicked off by TCS and Infosys on January 11. HCL Tech, Wipro and HDFC Life are some of the others that will declare their results this week.” , Head – Retail Research, Motilal Oswal Financial Services Ltd., said.
