Market Sentiment Driven by Earnings, Global Trends
Analysts anticipate that the stock market will be driven by factors such as quarterly earnings from major corporations like Reliance Industries, trading activities by foreign investors, and global economic developments.
Shortened Trading Week and Economic Data
The upcoming trading week will be shortened due to a holiday on Wednesday (Muharram). Additionally, macroeconomic announcements, including WPI inflation data for June, will significantly impact market movements.
Company Earnings and WPI Inflation Release
Several companies will disclose their financial results for the first quarter of fiscal year 2024-25, including Infosys, HDFC Life Insurance Company, BPCL, JSW Steel, Asian Paints, and Bajaj Auto. The WPI inflation data for June will be released on Monday.
Expert Commentary
Santosh Meena of Swastika Investmart emphasized the importance of Q1 earnings, pre-Budget discussions, and global events, particularly China’s GDP and Industrial Production (IIP) announcements.
Global Factors to Monitor
Other global factors that will affect market sentiment include the speech by the US Federal Reserve Chairman, US retail sales figures, and macroeconomic data from Japan. The European Central Bank (ECB) is also expected to announce its interest rate decision during the week.
Stock-Specific Movements and Investor Focus
Vinod Nair of Geojit Financial Services expects stock-specific moves to dominate due to the ongoing earnings season. The IT sector is likely to be in focus given its promising earnings and outlook. Economic data from China, the EuroZone, and the US, as well as the ECB policy decision, will provide investors with cues on market momentum.
