Inflation data, Q1 results to set market trend this week
Inflation data for the month of July to be announced Tuesday, Tata Steel, Sun Pharma and Oil India to declare Q1 results this week
New Delhi: Inflation data, quarterly earnings and global cues are expected to influence the stock markets’ trajectory in a holiday-shortened week ahead, say experts. The Bombay Stock Exchange and the National Stock Exchange are closed on Wednesday for Independence Day. “For the week ahead, CPI and WPI inflation data will be watched,” said Vinod Nair, head of research, Geojit Financial Services.
Meanwhile, industrial output recorded a five-month high growth of 7% in June as production of consumer durables and capital goods picked up pace ahead of the festive season. The data was announced post market hours on Friday.
“Markets are likely to consolidate recent gains this week,” said V.K. Sharma, head private client group and capital market strategy, HDFC Securities.
Inflation data for the month of July would be announced on Tuesday.
Tata Steel Ltd, Sun Pharmaceutical Industries Ltd and Oil India Ltd are among the major companies scheduled to announce their results this week.
Progress of monsoon, currency movement and crude oil prices would also be tracked by market participants.
On Friday, global stock and currency markets reeled after the Turkish lira plunged sharply against the US dollar, fuelling concerns about the macrostability of emerging economies.
Over the last week, BSE Sensex recorded a rise of 313.07 points, or 0.83%, to end at 37,869.23.