Domestic stock market trading this week will be influenced by quarterly results from TCS and Infosys, in addition to inflation and industrial production data as well as global trends, analysts said.
The movement of the rupiah, which has fallen to record lows against the US dollar, will also be watched by investors, they added.
“This week, participants will observe important macro data, namely IIP, CPI and WPI… In addition, the week also marks the start of earnings season with IT majors like TCS, Infosys, HCL Tech and Wipro announcing their figures with two other heavyweights Bajaj Auto and HDFC Bank,” said Ajit Mishra, Vice President – Research, Religare Broking Ltd.
The performance of US markets, the trend of FIIs and the movements of currencies and crude will also remain on their radar, Mishra added.
Last week, the 30-stock BSE Sensex benchmark jumped 764.37 points or 1.33%. National stock markets were closed on Wednesday for Dussehra.
Apurva Sheth, Head of Market Outlook, Samco Securities, said this week is going to be a roller coaster ride as a series of important events are expected.
“Markets around the world will be dominated by FOMC (Federal Open Market Committee) minutes to be released this week. Indian CPI will be a key national factor to watch,” he noted.
In addition, Indian IT companies will kick off quarterly earnings season, Sheth added.
“The market’s focus will be on quarterly earnings this week, especially for IT stocks. In addition, domestic market developments would be significantly affected by inflation data expected to be released this week,” he said. said Vinod Nair, head of research at Geojit Financial Services.
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