Q2 results, yield movement, FII flows among 7 factors likely to hog Dalal Street this week
market sentiment. The coming truncated week is likely to bring in volatility as a plethora of companies are scheduled to release earnings and the October derivatives expiry is due.
“Markets are likely to remain sideways to volatile in the coming week, and Nifty 50 may trade within a wider range of 19300-19850,” said Arvinder Singh Nanda, senior vice president, Master Capital Services.
A breakout in either direction within this range has the potential to trigger a significant move, possibly spanning 200 to 400 points in one direction, Nanda said.
On Friday, the Nifty 50 ended at 19542.65 points, down 82.05 points or 0.4%. The stock market will be closed on Tuesday for Dussehra.
Paytm, Bajaj Auto among 5 Nifty 200 stocks which hit new 52-week highs on Friday
The market will take further cues from the Israel-Palestine conflict. One should keep watch on the earnings of major companies in India. Some major global and domestic events will be in focus such as UK services PMI, US Manufacturing and Services PMI, building permits, new home sales, GDP, initial jobless claims, crude oil inventories, India’s balance of payment, and forex reserves.
Q2 Earnings
Investors will remain focused on the earnings season, which saw a soft start, as it would help in gauging the underlying growth trends for companies.
Axis Bank, Tech Mahindra, ACC, Asian Paints, Bajaj Finserv, Cipla, Dr Reddy’s Laboratories, Maruti Suzuki, SBI Cards, Indus Towers, Jubilant FoodWorks, Canara Bank, and Colgate Palmolive are some of the major companies announcing earnings in the next week.
Shares of Kotak Mahindra, YES Bank, IDBI Bank, ICICI Bank, and RBL Bank will also move on the back of their earnings reported over the weekend.
Macro
