close
This ad will auto close in 10 seconds

Second quarter results, macro data to influence stock market this week

Quarterly results from blue-chips TCS and Infosys and announcement of macroeconomic data - IIP and inflation - will drive market sentiment in a holiday-shortened week ahead, say experts.


Second quarter results, macro data to influence stock market this week

New Delhi: Quarterly results from blue-chips TCS and Infosys and announcement of macroeconomic data - IIP and inflation - will drive market sentiment in a holiday-shortened week ahead, say experts.

Stock markets will remain closed on Tuesday and Wednesday for Dussehra and Muharram, respectively.

"In coming weeks, second quarter corporate earnings and key economic data release will set the trend in a truncated trading session in stock markets," said Vijay Singhania, Founder Director, Trade Smart Online.

"Trading is expected to remain range-bound in the near term as there are too many uncertainties such as the Fed rates, US presidential election and corporate earnings season."

Earnings season will commence from this week as Tata Consultancy Services is scheduled to announce its September quarter result on October 13, and Infosys will announce its results on October 14.

Initially, Indian markets along with other Asian markets on Monday will react to the outcome of the crucial US non-farm payrolls data announced on October 7 after close of markets, Singhania added.

The US added 1,56,000 new jobs in September but the unemployment rate in the world's largest economy rose slightly by 0.1 percent to five percent, according to latest government data released yesterday.

On macro front, data on industrial production (IIP) for August is scheduled to come on Monday. Monthly inflation data based on consumer price index (CPI) for September is due on Thursday and wholesale price index (WPI) on Friday.

Investment trend by overseas investors, movement of rupee and crude oil price would also influence sentiment, marketmen said.

Over the last week, the Sensex and Nifty rose 195.18 points, or 0.70 percent, and 86.45 points, or 1 percent, respectively. 

 

From Zee News

0 Comment - Join the Discussions