Quarterly earnings, global indices and FII to influence equity trading this week

Financial results, foreign fund movements, global signals and rupee trends are the main factors that will boost stock markets this week, analysts said.

In addition, the international movement of benchmark Brent crude oil would also influence trading in the market, they added.

“The market will react to HDFC Bank’s numbers on Monday, while Ambuja Cement, HUL, IndusInd Bank and Wipro will be the other big names for Q1 earnings this week,” said Santosh Meena, head of research at Swastika Investmart. ltd.

On the global front, the ECB (European Central Bank) and Bank of Japan interest rate decision will be an important factor while the movement of the dollar index will remain a critical factor, Meena said.

“The market will also have an eye on commodity prices and the behavior of FIIs (foreign institutional investors),” Meena added.

HDFC Bank on Saturday reported a 20.91% increase in its June quarter net profit to Rs 9,579.11 crore on the back of overall growth. On a stand-alone basis, its net profit rose to Rs 9,195.99 crore from Rs 7,729.64 crore a year ago, but was down from Rs 10,055.18 crore in the previous March quarter.

“Absent any major events, we believe earnings and global indices will largely dictate the trend. We are seeing a struggle between bulls and bears not only in Indian markets but globally. “, Ajit Mishra, Vice President – ​​Research, Religare Broking Ltd, said.

BSE’s 30-stock benchmark fell 721.06 points or 1.32% last week on weak global trends, FII selling and concerns over high inflation.

Apurva Sheth, Head of Market Outlook at Samco Securities, said: “As concerns over rising inflation and recession weigh on the global economy, Indian benchmarks are likely to remain uncertain in the near term. Also, with earnings season in full swing, market players should avoid reading India Inc’s numbers too much and instead focus on management commentary.”

“As the earnings season gathers momentum, more stock-specific actions would be seen in the market. Going forward, the market is likely to continue its range-bound movement as the tussle continues between global and national signals,” said Siddhartha Khemka. , Manager – Retail Research, Motilal Oswal Financial Services.

Hindustan Zinc, IDBI, JSW Energy, PVR and Reliance Industries are among the other companies to report results this week.

With the start of the quarterly earnings season from April to June 2022, we can expect sector-specific stocks and shares over the next month, said Shrikant Chouhan, head of equity research (detail ) at Kotak Securities.

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