INSUBCONTINENT EXCLUSIVE:
On the domestic front, the last batch of Q1 earnings will drive stock-specific movements
Hero MotoCorp, Hindalco are some of the big corporate earnings this week, he added | File image2 min read Last Updated Aug 11 2024 | 10:22
AM IST
Macroeconomic data announcements, the last batch of Q1 earnings and global trends are the major factors that would influence
trading sentiments in the equity market in a holiday-shortened week ahead, analysts said.
Besides, trading activity of foreign investors
would also be a crucial factor in dictating movement in the market.
Equity markets would remain closed on Thursday for Independence
Day.
"This week, all focus will be on the global markets as we can see the extension of weakness after a long period of stability
The Indian equity market could also witness some bit of levelling off this week as investors process recent gains and contend with high
Geopolitical tensions are also escalating, but markets are not reacting significantly, which is reflected in the declining crude oil
prices," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
On the domestic front, the last batch of Q1 earnings will
drive stock-specific movements
Hero MotoCorp, Hindalco are some of the big corporate earnings this week, he added.
"Additionally, institutional flows will play a crucial
role in market dynamics," Gour said.
Vodafone Idea, NMDC, IRCTC, SJVN and PC Jeweller would also announce their quarterly earnings during
the week.
From the macroeconomic front, industrial production data for June and inflation rate for July will be announced on Monday
WPI inflation data will be out on Wednesday.
Indian inflation data is due this week, said Vinod Nair, Head of Research, Geojit Financial
Services.
"Moving forward, the direction of the domestic market will be influenced by global markets," Nair added.
Last week, the BSE
benchmark slumped 1,276.04 points or 1.57 per cent, while the Nifty declined 350.2 points or 1.41 per cent.
Stock markets globally faced a
sharp correction last week triggered by the unwinding of the yen carry trade and recession fears in the US.(Only the headline and picture of
this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)First
Published: Aug 11 2024 | 10:22 AMIST
