Analysts say that this week the market participants will keep an eye on the volatility of the rupee and crude oil prices.
Market Outlook for this Week: The direction of the domestic equity market will be decided this week by macroeconomic data and quarterly results of companies. Apart from this, the trend of global trends and foreign funds will also be important from the market point of view. Analysts have expressed this opinion. Analysts say that the market participants will keep an eye on the volatility of the rupee and crude oil prices as well.
What do experts say
Ajit Mishra, Vice President (Research), Religare Broking said, “This week market participants will be the first to comment on the quarterly results of Tata Consultancy Services (TCS). Apart from this, the data of Industrial Production (IIP) and Consumer Price Index Based Inflation (CPI) on 12th July and Wholesale Price Index Based Inflation (WPI) are to come on 14th July. Apart from domestic events, the trend of US markets and crude oil prices will remain on the radar of investors.
TCS’s June quarter results came after the market closed on Friday. The company’s consolidated net profit grew by 5.2 per cent to Rs 9,478 crore during the quarter. Apart from this, the company’s income has increased by 16.2 percent to Rs 52,758 crore during the quarter. Brokerage company Prabhudas Lilladher says that the company has missed the target on both the revenue and margin front.
Quarterly results of these companies will come
During the week, ACC, HCL Technologies, Jindal Steel & Power, Mind Tree, Federal Bank and HDFC Bank will also announce their June quarter results, said Santosh Meena, Research Head, Swastika Investmart. Meena said, “IIP and CPI figures will come on 12 July and WPI on 14 July. Talking on the global front, US CPI, IIP and employment data will be important from the market point of view. will decide the move.
Apoorva Seth of Samco Securities said, “Many events this week will be important for the market. Market participants will keep an eye on US inflation data and unemployment claims. In such a situation, India’s inflation data will also be important. Seth said, “Quarterly results of companies will affect the market sentiment. Dalal Street will also be very interested in what companies express for the future. (Input-PTI)