Markets to eye earnings report card, inflation, global events this week: Analysts
"Market wants to look forward where Q3 earnings and pre-Budget movement will be the theme of this week. In terms of earnings, Wipro, IndusInd Bank, Reliance Industries, HCL Technologies and HDFC Bank will be key companies that will post their Q3 results this week," said Santosh Meena, Senior Research Analyst, TradingBells.
He added that Infosys shares may react positively on Monday after the company's audit committee gave a clean chit to the management on allegations of misconduct.Infosys on Friday said the board's audit committee has completed the independent probe into the anonymous whistleblower allegations and found "no evidence" of financial impropriety or executive misconduct.
"Markets will first react to IT major Infosys results in the early trade on Monday. Meanwhile, volatility would remain high on the stock-specific front due to prevailing earnings season and global uncertainty," said Ajit Mishra, VP - Research, Religare Broking Ltd.Among macroeconomic data announcements, retail and WPI inflation numbers will be released on Monday and Tuesday, respectively.
On the global front, with US-Iran tensions cooling off, focus will largely shift to the upcoming US-China trade deal signing.Kotak Mahindra Asset Management Company, Senior VP and Head of Equity Research, Shibani Kurian said, "From here on, the equity markets would focus on the upcoming Union Budget and also RBI policy at the start of February. Markets would also take cues from the Q3 FY20 earnings season with key focus being on management commentary on business outlook." Markets would on Monday may also react to industrial production data which was announced post market hours on Friday.
The country's industrial output grew 1.8 per cent in November, turning positive after three months of contraction, on account of growth in the manufacturing sector.
"Markets are heading for testing times given that the result season has set in and Budget parleys too will have to be digested in weeks to come. Volatility is expected to increase, although prices are not expected to move much till Budget. However, sector specific rallies are likely to continue," Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote said.During the last week, the Sensex advanced 135.11 points or 0.32 per cent. SUM ABM ABM
(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)
- Maha Budget: Rs 12,500 cr package for health institutions
- For women, Maha Budget offers stamp duty concession, special SRPF battalion
- Jeff Bezos' ex-wife MacKenzie Scott - third richest women in the world gets married to a chemistry teacher
- Delhi govt's 'outcome budget' 2020-21: Most projects under Directorate of Education 'on track'
- Maharashtra budget: Plan for hill station in Palghar's Jawhar