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The Indian markets will mainly be dictated by important factors such as March quarter earnings and global cues in the next week, several analysts said in their expectations. With the ongoing pandemic situation and uncertainties in the market, the investors are keenly looking for cues from various sources to make informed investment decisions. Let’s take a look at what the analysts have to say about the Indian markets in the coming week.
Earnings to play a crucial role
In absence of any major event, the focus will be on earnings and global markets for cues, Ajit Mishra, VP – Technical Research, Religare Broking said in his expectations for next week. “On the earnings front, participants will first react to Infosys and HDFC Bank’s numbers in early trade on Monday. Among the other prominent names, Tata Comm, HCL Tech, and ICICI Bank will announce their results during the week,” the analyst at Religare Broking said in his note.
Pravesh Gour, Senior Technical Analyst, Swastika Investmart was of the same view as Mishra as he said, “The market will be keeping an eye on India Inc’s Q4 earnings, and the commentary will be followed quite closely.” With the announcement of the earnings season, investors will be analyzing the performance of various companies and sectors to make informed investment decisions.
Global cues to influence the Indian markets
Experts believe that the positive sentiment in the Indian equity markets will continue to be driven by the movement of the world markets. Arvinder Singh Nanda, Senior Vice President, of Master Capital Services said that the trend in the global markets, domestic and global macroeconomic data, crude oil prices, and the movement of the rupee against the dollar will also dictate the trend on the bourses in the coming week. Besides, China’s first-quarter gross domestic product (GDP) data, and industrial production data for March will be announced in the coming days, Nanda said his expectations for next week.
Recovery in sectors like auto, metal, pharma, and realty
Apart from banking and financials, recovery in other sectors like auto, metal, pharma, and realty added to buoyancy. The broader indices too performed well and gained over 1.5 per cent each. The tone was positive for most of the week; however, pressure in the IT majors capped the momentum.
Foreign investors’ flow, the rupee’s movement, and crude oil trend
Apart from the above factors, other triggers like foreign investors’ flow, the rupee’s movement against the dollar, and crude oil’s trend may also influence the benchmark indices in the coming week. Therefore, investors are keeping a close eye on these factors to make informed investment decisions.
In conclusion, the Indian markets will continue to be influenced by various factors in the coming week. The focus will mainly be on earnings and global cues, and investors will be analyzing the performance of various companies and sectors to make informed investment decisions. With the ongoing pandemic situation and uncertainties in the market, it is crucial for investors to be cautious and make informed decisions based on the expert’s advice.