INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Mr Market scaled new peak in the week gone by, but hit a speed bump on Friday, owing to panic selling on financial counters
The benchmark BSE Sensex slipped 0.41 per cent to 37,869.23, but posted a weekly rise of 0.83 per cent
The broader Nifty50 index ended 0.36 per cent lower at 11,429.50 on Friday, but gained 0.60 per cent for the week.
The stock market will
remain closed on Wednesday on account of Independence Day
Below is a list of key events or factors that may steer market in the holiday truncated week
Last leg of earnings: The earnings season is drawing to a close
Among prominent names, Oil India, Abbott India, Cadila Healthcare, DHFL and Hindustan Aeronautics are scheduled to declare their Q1 results
Indiabulls Real Estate will announce its June quarter numbers on August 14.
Trade disputeThe escalating trade dispute between the US and
China is likely to keep investors on tenterhooks
On Friday, China's top news paper rebutted trade war criticism saying like an elephant, China cannot hide its size and strength
stance may have hardened the US position," Reuters reported citing sources
WPI inflationThe inflation data based on wholesale price index (WPI) for July is slated to release on Tuesday
Wholesale prices shot up to 5.77 per cent in June on increasing prices of vegetables and fuel items
The Wholesale Price Index (WPI)-based inflation stood at 4.43 per cent in May and 0.90 per cent in June last year.
RupeeThe domestic unit on
Friday fell sharply by 15 paise to end to 68.83 against the resurgent dollar amid fears of escalation in trade tensions worldwide
It hit a fresh 3-week low in early trade before regaining some lost ground.
According to a Reuters poll, the rupee will trade in a tight
range in the coming year but not far from its historic low owing to higher crude prices and trade disputes
The Indian currency has lost over 7 per cent this year
What does tech charts sayThe Nifty50 index on Friday formed a small bearish candle similar to the Bearish Belt Hold pattern on the daily
On the weekly scale, the index continued to form higher high and higher low for the fifth session, but formed an indecisive Spinning Top
But even if this happens, it would be a healthy sign with a broader view and hence, should be construed as a buying opportunity," says Angel
Broking in its weekly report.
On the upside, the immediate resistance remains at 11,500-11,520
said.
Stock-specific actionsTCS: Tata Consultancy Services (TCS) has fixed record date as August 18 for the purpose of determining the
entitlement and the names of the equity shareholders who shall be eligible to participate in the buyback offer of the company.
Coal India:
The company on Saturday reported 61 per cent year-on-year rise in net profit at Rs 3,786.44 crore for June quarter
Consolidated revenue from operations for the quarter rose 17.96 per cent to Rs 24,260.87 crore compared with Rs 20,567.81 crore in the
IOC:Indian Oil Corporation (IOC) has reported 50.27 per cent jump in consolidated net profit at Rs 7,092.42 crore for the first quarter of
Jet Airways: The battered airline, which deferred its June quarter results without specifying any reasons, on Friday informed regulator
Sebi that it has not yet decided on the new date to announce the earnings as the audit committee has sought more time to finalise the
