Investors will also watch the movement in crude oil prices and the movement of the rupee against the US dollar. (Representational image/Reuters)
The Wholesale Price Index (WPI) inflation data for March will be released on Monday.
Analysts said WPI inflation data for March, quarterly earnings, global trends and foreign fund trading activity are key factors that will move equity markets this week.
Investors will also watch the movement in crude oil prices and the movement of the rupee against the US dollar.
The Wholesale Price Index (WPI) inflation data for March will be released on Monday.
“Trends in global markets, domestic and global macroeconomic data, crude oil prices and rupee’s movement against dollar will determine the trend this week,” said Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd.
HCL Technologies, Hindustan Zinc, Tata Coffee and Tata Communications are some of the major companies that will announce their quarterly results this week.
“The recommendations will focus on earnings and global markets. On the earnings front, participants will be the first to react to the numbers of Infosys and HDFC Bank in early trade on Monday,” said Ajit Mishra, VP – Technical Research, Religare Broking Ltd.
Largest private sector lender HDFC Bank on Saturday reported a 20.6 per cent jump in its consolidated net profit to Rs 12,594.5 crore for the March 2023 quarter, driven by a healthy core performance.
Infosys on Thursday reported a lower-than-expected rise in fourth-quarter net profit and gave weak guidance of 4-7 per cent revenue growth for FY24 amid tightening IT budgets by clients following the turmoil in the US banking sector.
During the holiday lull last week, the 30-share BSE Sensex climbed 598.03 points or 0.99 per cent.
The stock market remained closed on Friday on account of Dr. Babasaheb Ambedkar Jayanti.
“Sentiment will continue to be driven by the movement of world markets. “The market will be closely watching our fourth quarter earnings and commentary will be followed closely,” said Pravesh Gaur, senior technical analyst at Swastik Investmart Ltd.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
