The quarterly results of many major companies including Infosys and Reliance Industries will be announced next week. These results may impact market movements this week due to global trends and trading activities of foreign investors. Analysts have predicted about the stock markets in this festive week that the June domestic wholesale price index inflation data to be released on Monday may also impact business sentiment.
The market will remain closed on Wednesday
Markets will remain closed on Wednesday due to Muharram. Major companies whose quarterly results will be released this week include HDFC Life Insurance Company, Bajaj Auto, BPCL, JSW Steel, Asian Paints, Infosys and Reliance Industries.
Santosh Meena, Head of Research at Swastika Investmart Limited, said that the first quarter results will be monitored primarily this week. During this time, major companies like Infosys and Reliance will release their results. Apart from this, fluctuations are also expected in the market due to pre-budget discussions. Meena said that special attention will be paid to China on the global front. Other global factors to watch out for include the US Federal Reserve Chairman’s speech, US retail sales data and macroeconomic data from Japan.
What do the experts say?
Siddharth Khemka, head of retail research at Motilal Oswal Financial Services Limited, said the market will react to India’s inflation data on Monday. Top performers this week include Jio Financial Services, HDFC Life, Asian Paints, LTIMindtree, Infosys, Wipro, JSW Steel, Paytm, etc.
According to government data released on Friday, retail inflation rose to 5.08 per cent in June due to rising prices of food items, including vegetables. Vinod Nair, head of research at Geojit Financial Services, said that due to the quarterly results, some specific stocks will impact the market. He said that the IT sector is expected to be in the headlines during this period.
