Q1 earnings to guide equity markets in holiday-shortened week


PTI, Jul 18, 2021, 10:13 AM IST

 

New Delhi: The first-quarter earnings season will dictate the trend in the equity markets in this holiday-shortened week amid absence of major macroeconomic drivers, say analysts.

Besides, lacklustre global markets may increase volatility in the market, they added. Equity markets would remain closed on Wednesday for Bakri-Id.

‘This week is a holiday-shortened one and global cues and earnings announcements will continue to dictate the trend. Besides, COVID-related updates and progress of monsoon will remain in focus. On the earnings front, we have a long list of major corporates who will be announcing their numbers during the week,’ said Ajit Mishra, VP Research, Religare Broking.

Some of the prominent names are Reliance, ACC, Asian Paints, Bajaj Finance, Bajaj Auto, HCL Technologies, HDFC Life Insurance, ICICI Prudential Life Insurance, Hindustan Unilever, Ultratech Cement, Ambuja Cement and JSW Steel, Mishra added.

‘In our view, progress of monsoon, Q1 FY22 corporate earnings and COVID-19 positivity rates will be in focus in the near term,’ Binod Modi, Head Strategy at Reliance Securities said.

‘As we have stepped into the earning season, market momentum will be decided by outcomes of quarterly earnings and management commentary on recovery. We expect this sector-specific momentum to continue during the weeks ahead. However, lacklustre global market and FII net sellers are likely to increase volatility in the market,’ said Vinod Nair, Head of Research at Geojit Financial Services.

During the last week, the BSE benchmark rallied 753 points or 1.43 per cent powered by gains in infra, IT and financials stocks. The benchmark indices Sensex and Nifty hit a new record high and ended up by 1.4 per cent and 1.5 per cent respectively.

On the sectoral front, most sectors contributed to the move and closed higher. The broader markets, midcap and smallcap continued their stellar performance and ended in the range of 1.4-2.3 per cent, Mishra said.

Market participants would also track the movement in the forex market, Brent crude and foreign institutional investors.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Kalaburagi: Policeman, injured in cannabis mafia attack, airlifted to Bengaluru

3 IIT students among 7 killed as vehicle falls into gorge in Himachal’s Kullu

President Murmu inaugurates Dasara festivities in Mysuru

Want to give Karthik more game time ahead of WC: Rohit

Nightmares are a good predictor of future dementia – new study

MLA Vedavyas Kamath flags off ‘Dasara Darshini’ special bus

WATCH: Live telecast of Mysuru Dasara inauguration by President Droupadi Murmu


Related Articles More

Rupee falls 43 paise to all-time low of 81.52 against US dollar

Apple now manufacturing iPhone 14 in India

Merger of entities with Tata Steel will simplify management, help focus on business: CFO

Zomato to inspect cloud kitchens hosting more than 10 brands to curb malpractices

Equity investors poorer by Rs 4.90 lakh cr as Sensex tumbles nearly 2 pc

MUST WATCH

Creative PU College Moodabidri

Lighiting at Uchila Mahalakshmi Temple

Health Minister K Sudhakar Statement about paycm

How to grow Avocado

Dasara Celebration in Uchila Mahalakshmi Temple


Latest Additions

Kalaburagi: Policeman, injured in cannabis mafia attack, airlifted to Bengaluru

Rihanna to headline 2023 Super Bowl halftime show

Mortal remains of senior Congress leader Aryadan Mohammed laid to rest with full state honours

One of India’s finest statesman: Rahul wishes ex-PM Manohan on his birthday

One of India’s finest statesman: Rahul wishes ex-PM Manohan on his birthday

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.