Last week, the BSE benchmark climbed 596.87 or 0.81 per cent. It hit an all-time excessive of 74,501.73 on April 4.
Equity markets will stay closed on Thursday for Eid-Ul-Fitr.
Global tendencies, macroeconomic knowledge bulletins and the beginning of the earnings season can be the main drivers for the fairness markets in a vacation-shortened week, analysts stated.
Equity markets will stay closed on Thursday for Eid-Ul-Fitr.
Trading exercise of international buyers, rupee-greenback tendencies and crude oil costs would additionally information tendencies in markets.
“Indian companies are set to enter a new corporate earnings Q4 season this week. Leading the pack is IT services giant TCS, set to kick off the earnings season for the quarter ending March 2024.
“Its results for the fourth quarter of FY24 will be announced on April 12, 2024, after market trading hours. Apart from that India’s industrial production data will also be announced on 12th April 2024. On the same day, inflation for March will be declared,” stated Santosh Meena, Head of Research, Swastika Investmart Ltd.
Investors will intently monitor the motion of the rupee in opposition to the greenback, crude oil costs, and funding actions of Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs), Meena added.
Last week, the BSE benchmark climbed 596.87 or 0.81 per cent. It hit an all-time excessive of 74,501.73 on April 4.
“The outlook for the market will be guided by major global and domestic economic data, India’s CPI data and IIP, US consumer inflation, US business optimism index, US initial jobless claims and ECB (European Central Bank) interest rate decision,” Arvinder Singh Nanda, Senior Vice President, of Master Capital Services Ltd, stated.
Ajit Mishra, SVP – Technical Research, Religare Broking Ltd, stated this week marks the start of the earnings season and the main focus will likely be on the IT majors to begin with.
“This week, the focus will shift to Q4 earnings season as TCS will announce its results on 12th April. Also, markets will take cues from global events like India & US inflation data, and ECB policy meeting. Overall we expect the market to consolidate in a broader range with stock-specific action,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, stated.
(This story has not been edited by News18 employees and is printed from a syndicated information company feed – PTI)
