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Qtly earnings, global trends to guide equity mkts this week
The Business Guardian
|January 15, 2024
Movement in the equity market this week will largely be dictated by quarterly earnings of blue-chip firms HDFC Bank and Hindustan Unilever, along with the announcement of WPI inflation data and global trends, analysts said.
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Trading activity of foreign investors, global oil benchmark Brent crude and rupeedollar trend would also guide the movement.
“The focus will shift towards Q3 earnings, with key players such as HDFC Bank, HUL, Asian Paints, IndusInd Bank, and Ultratech Cement set to announce their results. Pre-Budget expectations are also likely to influence the sector and stock-specific movements,” Santosh Meena, Head of Research, Swastika Investmart Ltd said.
As the market gears up for the Budget, institutional flows will play a crucial role in determining its direction, he added.
WPI inflation data for December is scheduled to be announced on Monday.
This story is from the January 15, 2024 edition of The Business Guardian.
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