Gift Nifty, mixed trend in Asian markets to Wall Street corporate earnings - key triggers for Indian stock market today
US Federal Reserve and European Central Bank later this week and possibly the end of the tightening cycle in both. Investors will also focus on a slew of corporate earnings this week, including that of Alphabet, Meta, Intel, Microsoft, GE, AT&T, Boeing, Coca Cola, Ford, among others, in the US. In Asia, Japan’s manufacturing activity extended declines in July, as the au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) fell to 49.4 in July from 49.8 in June.
Meanwhile, the Bank of Japan on Friday will likely keep its super-loose policy intact, according to analysts. On the domestic front, the equity markets continued to rally last week and made a series of fresh closing all time highs amid abated inflow of FII money and improved sentiments due to healthy corporate results so far, especially from the banking sector. “All eyes will be on the US Fed and ECB policy meeting next week.
Investors would also take cues from various macro data that would be released. With the result season picking up pace, we expect a lot of stock-specific action and provide direction to domestic equities in the coming week," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 24th July Japan’s Nikkei 225 gained 0.95% and the Topix rose 0.57%.
South Korea’s Kospi fell 0.44%, while the Kosdaq declined 1.07%. Hong Kong’s Hang Seng index futures traded around 600 points lower at 18,953. Australia, the S&P/ASX 200 rose 0.13%.
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