INSUBCONTINENT EXCLUSIVE:
The Nifty gained 58 points, or 0.5%, on a weekly basis, after trading within a range of 10,604-10,816Corporate earnings and macroeconomic
data are expected to drive the stock markets in the coming week
While Tata Consultancy Services (TCS) is slated to kick off the corporate earnings season during the week, the government is due to release
Brokerage HDFC Securities expects the Nifty to continue in a range-bound trend in the near term
IT major Infosys, along with lenders such as Kotak Mahindra Bank and IndusInd Bank, will also post their Q1 earnings during the week.3
"The IT sector earnings will be in focus, given its recent performance, INR weakness and the buoyant US economy," Devendra Nevgi, founder
and principal partner, Delta Global Partners, told news agency IANS.4
Investors will also watch out for Index of Industrial Production (IIP), Consumer Price Index (CPI) and trade data for cues
The Central Statistics Office (CSO) is slated to release IIP and CPI data on Thursday.5
"CPI inflation and IIP data will be keenly watched consensus expects June CPI rise to 5.2 per cent versus 4.87 per cent and May IIP is
expected improve to 5.9 per cent versus 4.9 per cent," Vinod Nair, research head at Geojit Financial Services, told IANS.6
Besides, the movement of Indian rupee against the US dollar and the direction of foreign fund flows will also set the course for the key
That marked a decline of 41 paise, or 0.6 per cent, in the rupee against the greenback this week
dollar in the coming week, news agency Press Trust of India reported citing bankers
The Reserve Bank of India (RBI), however, will not be comfortable with the currency touching 70 and will defend the domestic currency, they
On a weekly basis, the 50-scrip NSE benchmark index, Nifty, gained 58 points, or 0.5 per cent, to settle at 10,772
At the same time, halt in lower levels buying could trigger weakness in the market," HDFC Securities added.(With agency inputs)
