New Delhi: Trading activity in the domestic stock market this week will be influenced by a slew of macro data announcements, including the June inflation figure, first-quarter corporate earnings, global trends and fund movements. foreigners, analysts said.
Besides, other key factors such as the rupee-dollar trend and the price of Brent crude oil will also guide market sentiments, they added.
“This week, participants will first react to the TCS figures. In addition, macroeconomic data, namely the July 12 IIP and CPI and the July 14 WPI, will be the main focus. national, global indices such as performance of US markets, movement of crude etc will remain on the radar,” said Ajit Mishra, Vice President of Research, Religare Broking Ltd. 9,478 crores for the first quarter ended 30 June.
It saw revenue growth of 16.2% to Rs 52,758 crore for the quarter, with all major geographies and business segments recording strong numbers, but it was operating profit margins, which fell to 23.1% – well below the ambitious band. more than 26 percent – which hurt earnings growth.
Brokerage Prabhudas Lilladher said the company missed both revenue and margins in the June quarter results. On the earnings front, ACC, HCL Technologies, Jindal Steel and Power, MindTree, Federal Bank and HDFC Bank will announce their first quarter figures during the week. “…IIP and CPI figures will be announced on July 12 while WPI will be announced on July 14.
On the global front, US CPI, IPI and employment numbers will be key drivers,” said Santosh Meena, Head of Research, Swastika Investmart Ltd. Apart from this, the behavior of FII and the direction of Rupee and Crude Oil prices will be different. Last week, the BSE Sensex rose 1,573.91 points or 2.97%, while the NSE Nifty rose climbed by 468.55 points or 2.97%.
Apurva Sheth, Head of Market Outlook, Samco Securities, said: “This week will test the market in many ways as a host of important events are predicted. UI claims data keep global markets on their toes.”