Tuesday, July 16, 2024

Q1 Earnings, Inflation Data, Investors’ Activity To Drive Markets This Week | Pragativadi | Odisha News, Breaking News Odisha, Latest Odisha News – N.F Times


New Delhi: Global economic trends and the trading activity of foreign investors are expected to be the main drivers of market sentiment this week, according to analysts.

Additionally, the upcoming first-quarter earnings reports from companies such as TCS and HCL Tech are also anticipated to significantly impact investor decisions. Some of the companies scheduled to report earnings this week include Avenue Supermarts, HCL Technologies, TCS, 5paisa Capital, and Tata Elxsi.

The market is also expected to stabilize after last week’s record-breaking rally, as suggested by analysts. Pravesh Gour, Senior Technical Analyst at Swastika Investment Ltd, highlighted that the Q1 earnings season is commencing this week, with key companies like TCS and HCL Technologies set to release their earnings on July 11 and 12, 2024, respectively.

Furthermore, the Union Budget in India, scheduled for July, is a significant event that investors and traders are closely watching, in hopes of growth-oriented policies and the development of the monsoon season. Gour also mentioned that Jerome Powell, Chair of the US Federal Reserve, is due to deliver his testimony on July 9, 2024.

Furthermore, market participants will monitor the activities of foreign and domestic institutional investors (FIIs and DIIs), as well as keep an eye on fluctuations in crude oil prices. Notably, the BSE Sensex and the NSE Nifty50 both reached record highs last week, with the Sensex gaining 963.87 points and the Nifty climbing 313.25 points.

Arvinder Singh Nanda, Senior Vice President at Master Capital Services Ltd, emphasized that the market outlook will be influenced by important domestic and global economic data, including India’s CPI, industrial production, Fed speeches, UK GDP data, US core CPI inflation, and initial jobless claims. Vinod Nair, Head of Research at Geojit Financial Services, stated that as the market enters the earnings season, beginning with the IT giant TCS, there are high expectations for positive results. Investors will closely scrutinize management commentary for insights into the sector’s outlook.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd, shared his projections, stating that the market is expected to track stock and sector-specific movements along with the Q1FY25 earnings. Additionally, investors will be paying close attention to the inflation data to be released by India, China, and the US.


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