Delhi News

Q1 earnings, global cues to set Indian markets’ trend this week: Analysts


Quarterly earnings and global developments would be the major factors driving equity in the holiday-shortened week ahead, analysts said.

Foreign fund movement will also play a crucial role in deciding the trend, they added.

will remain closed on Tuesday for Muharram.

“This week market will deal with the last batch of Q1 earnings where it will react to SBI, and BPCL results on Monday, while Adani Ports, Bharti Airtel, PowerGrid, Coal India, Eicher Motors, Hindalco, Grasim, Hero Motocorp, LIC, ONGC and Bata India will be other prominent earnings during the week,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.

The country’s biggest lender State Bank of India (SBI) on Saturday posted a 7 per cent decline in standalone net profit at Rs 6,068 crore for the first quarter of the current financial year on account of mark-to-market (MTM) losses.

Hindustan Petroleum Corporation Ltd (HPCL) on Saturday reported its highest-ever quarterly net loss of Rs 10,196.94 crore in the June quarter as a freeze on petrol and diesel price revision wiped away record refining margins.

Global cues will be important as geopolitical concerns are rising whereas both domestic and global macro numbers will play an important role, Meena added.

India will announce its CPI and IIP data on August 12, while US inflation numbers will be released on August 10.

“This week is a holiday-shortened one and participants will be closely eyeing global and domestic factors viz. earnings and macroeconomic data for cues.

“Further escalation of China-Taiwan tension may result in volatile swings. On the data front, we have IIP and CPI inflation scheduled for August 12,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

The 30-share BSE benchmark Sensex advanced 817.68 points or 1.42 per cent last week.

It was the third straight week of gains for the Indian equity markets, thanks to continuous buying by FIIs. However, volatility has jumped at higher levels as the market is a little overbought, Meena of Swastika Investmart added.

Apurva Sheth, Head of Market Perspectives, Samco Securities, said, “On a macroeconomic front, this week is expected to be jam-packed for investors. The global markets are likely to dance to the tune of the inflation figures to be released by the United States and China. Back home, market players will turn to the Indian CPI print for hints about the economy’s trajectory.” With the overhang of monetary policy now behind us, the geopolitical tension between China and Taiwan will be in focus, as any flare up in the region may lead to panic situations across the globe, said Amol Athawale, Deputy Vice President – Technical Research, Kotak Securities Ltd.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor


Source link

For more information call us at 9891563359.
We are a group of best insurance advisors in Delhi. We are experts in LIC and have received number of awards.
If you are near Delhi or Rohini or Pitampura Contact Us Here

LIC Videos

Airtel Is Offering Term Life Insurance Of 4 Lakhs For Just Rs 279, Know How You Can Benefit

Airtel Is Offering Term Life Insurance Of 4 Lakhs For Just Rs 279, Know How You Can Benefit

#Airtel #NewsNationTV

News Nation is a leading Hindi News Channel. News Nation covers breaking news, latest news, Entertainment news, Political news, Bollywood news, Business news and Sports news in hindi language.

Subscribe us on YouTube Channel:

Get More Updates on:

Download Android and iOS Apps for more updates:

Android App:

iOS App:
Follow us on:
Twitter :
Google+ :


Contact Us for Insurance Needs in Rohini, Delhi, Pitampura