Market ahead: Q3 results, Red Sea crisis, inflation, FII activity among key market triggers to watch next week
Weekend Wrap: From Vodafone Idea to Yes Bank, top news and market movers this week The broader market continued to demonstrate strong performance for the second consecutive week, with the Nifty Midcap 100 recording a gain of 2.5 percent and the Nifty Smallcap 100 showing a 1.9 percent increase. Nevertheless, analysts caution investors to exercise prudence in light of the upcoming results season and ongoing uncertainties in the Red Sea region.
"The market ended on a flat note, tracking weak global cues, with the US 10-year yield edging higher ahead of the release of US payroll data later today, which may shape the expectation for the Fed policy. Investors are also staying cautious ahead of eurozone inflation data today.
On the domestic front, the market is moving towards the results season, and we expect the exuberance of the broader index may be tested if the December quarter earnings do not justify the valuation," said Vinod Nair, Head of Research, Geojit Financial Services. Also read: Bajaj Auto, Chambal Fertilisers to consider buyback of shares next week As per the BSE earnings calendar, approximately 65 companies are scheduled to unveil their results from January 8 to January 13.
Among the Nifty 50 companies, TCS (January 11), Infosys (January 11), HCL Tech (January 12), Wipro (January 12), and HDFC Life Insurance (January 12) are set to announce their financial results for the end of December. Also read: Tata Steel Q3 update: Crude steel production stood at 5.32 million tons, up 6% Analysts at Elara Securities anticipate subdued performances from the IT firms, projecting an average constant currency (CC) growth of 1.4-1.6 percent in dollar terms.
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