New Delhi: Along with quarterly earnings from IT majors, a host of macroeconomic data announcements were made during the week, including Infosys And TCSAnalysts said, the equity market is likely to set the trend, which started the year 2022 on a strong note.
In the meantime, market participants will keep a close watch on various developments and news around the rising COVID cases, both on the global and domestic front, he added.
“Big IT companies like Infosys, TCS, Wipro, HCL Tech And Mindtree Will announce their numbers. Apart from this, the result of banking heavyweight HDFC Bank is also scheduled. On the macroeconomic front, participants will also be eyeing IIP, CPI inflation and WPI inflation data. Amidst all, global cues and updates on the COVID situation will remain on the radar of the participants,” said Ajit Mishra, VP Research, Religare Broking,
He added that earnings will now dictate the market trend and participants expect an encouraging start by the IT giants.
While the markets are currently ignoring the rise in Covid cases, the extension of strict restrictions imposed by several states could hurt sentiment, Mishra said.
Santosh Meena, Head of Research, Swastika Investmart Ltd said, “The market will be busy dealing with earnings of the IT giants… On the macro front, the IIP and CPI numbers will also be announced on January 12 while the WPI will be announced on January 14.”
He further said that the cases of Kovid are increasing rapidly across the world, although the market is complacent about it as the hospitalization and mortality rate is very low. For the third wave, the market’s eye will remain on the development.
Meena said that on the global front, rising crude oil prices could be a cause for concern, while inflation numbers from China and retail sales numbers from the United States would be other important factors.
Yasha Shah, Head of Equity Research, Samco Securities said, “Q3FY22 earnings season will begin with large-cap IT companies reporting first. On the macroeconomic front, investors will keep a close watch on the domestic inflation rate, as well as inflation in the United States. Numbers for the US and China.”
Last week, the BSE benchmark Sensex had jumped 1,490.83 points or 2.55 per cent.
“This week will be driven by trends in preliminary earnings results with a focus on the IT sector. It is also a busy week in terms of releasing macroeconomic data points such as inflation data for December and manufacturing and industrial production data for November, ” he said. Vinod NairHead of Research at Geojit Financial Services.
Investors will also keep an eye on rupee movements and foreign institutional investors (FIIs).
In the meantime, market participants will keep a close watch on various developments and news around the rising COVID cases, both on the global and domestic front, he added.
“Big IT companies like Infosys, TCS, Wipro, HCL Tech And Mindtree Will announce their numbers. Apart from this, the result of banking heavyweight HDFC Bank is also scheduled. On the macroeconomic front, participants will also be eyeing IIP, CPI inflation and WPI inflation data. Amidst all, global cues and updates on the COVID situation will remain on the radar of the participants,” said Ajit Mishra, VP Research, Religare Broking,
He added that earnings will now dictate the market trend and participants expect an encouraging start by the IT giants.
While the markets are currently ignoring the rise in Covid cases, the extension of strict restrictions imposed by several states could hurt sentiment, Mishra said.
Santosh Meena, Head of Research, Swastika Investmart Ltd said, “The market will be busy dealing with earnings of the IT giants… On the macro front, the IIP and CPI numbers will also be announced on January 12 while the WPI will be announced on January 14.”
He further said that the cases of Kovid are increasing rapidly across the world, although the market is complacent about it as the hospitalization and mortality rate is very low. For the third wave, the market’s eye will remain on the development.
Meena said that on the global front, rising crude oil prices could be a cause for concern, while inflation numbers from China and retail sales numbers from the United States would be other important factors.
Yasha Shah, Head of Equity Research, Samco Securities said, “Q3FY22 earnings season will begin with large-cap IT companies reporting first. On the macroeconomic front, investors will keep a close watch on the domestic inflation rate, as well as inflation in the United States. Numbers for the US and China.”
Last week, the BSE benchmark Sensex had jumped 1,490.83 points or 2.55 per cent.
“This week will be driven by trends in preliminary earnings results with a focus on the IT sector. It is also a busy week in terms of releasing macroeconomic data points such as inflation data for December and manufacturing and industrial production data for November, ” he said. Vinod NairHead of Research at Geojit Financial Services.
Investors will also keep an eye on rupee movements and foreign institutional investors (FIIs).
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