Business Market 03 Nov 2019 Q2 earnings, macro d ...

Q2 earnings, macro data key for markets this week: Analysts

PTI
Published Nov 3, 2019, 5:06 pm IST
Updated Nov 3, 2019, 5:09 pm IST
With no major events due this week, market will focus on the next leg of corporate result announcements, said Vinod Nair of Geojit.
Over the last week, the 30-share BSE Sensex zoomed 1,106.97 points or 2.83 per cent. (Photo: File)
 Over the last week, the 30-share BSE Sensex zoomed 1,106.97 points or 2.83 per cent. (Photo: File)

New Delhi: Quarterly earnings from bluechips like HDFC, macroeconomic data points and global cues would drive equity market sentiment this week, say analysts.

"With no major events due this week, market will focus on the next leg of corporate result announcements. Key players like HDFC, Tech Mahindra, Sun Pharma to announce results.

 

"Auto companies will be in radar after they reported weak set of sales for October," said Vinod Nair, Head of Research, Geojit Financial Services.

Major companies set to announce their quarterly earnings this week are HDFC, Indian Overseas Bank, Jindal Steel & Power, Canara Bank, Cipla, Corporation Bank, Tata Steel, Ashok Leyland and Bank of Baroda.

PMI data for the services sector, scheduled for Tuesday, would also influence trading sentiment.

"We believe that Mr. Market would turn volatile in the weeks ahead as it will witness profit booking at higher levels, markets will also see a churn out of large caps with inflows in select midcaps," said Jimeet Modi, Founder and CEO, SAMCO Securities & StockNote.

 

Over the last week, the 30-share BSE Sensex zoomed 1,106.97 points or 2.83 per cent.

A lot will also depend on how global markets are performing as they will direct domestic sentiments, said Mustafa Nadeem, CEO, Epic Research.

Participants will also keep an eye on foreign fund inflows, crude oil prices and rupee-dollar movement, experts added.

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Location: India, Delhi, New Delhi




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