New Delhi: Quarterly earnings and global trends this week will be key driving factors for equity markets as trading resumes after a long holiday, said analysts. He said the Russia-Ukraine war and the COVID-19 situation in China would be monitored for further signs. “As earnings season picks up, D-Street will be monitoring the quarterly results to gauge the future trajectory of the market.”
Yesha Shah, Head of Equity Research, Samco Securities, said, “Since no major global or domestic macroeconomic events are expected this week, stock-specific movements will be more pronounced and whipsaw movements as a result of the hit and miss of earnings. could.” The WPI inflation for March is to be announced on Monday.
Markets will react on Monday on two key earners – Infosys and HDFC Bank – said Ajit Mishra, VP – Research, Religare Broking Ltd. India’s second largest software services firm Infosys last week reported a 12 per cent year-on-year growth in consolidated net profit at Rs 5,686 crore for the March quarter as it reported 13-15 per cent revenue growth for FY23. had guessed. A “strong demand environment” and a “strong deal pipeline”.
Country’s largest private sector lender HDFC Bank on Saturday reported a 22.8 per cent jump in its standalone net profit at Rs 10,055.2 crore for the quarter ended March 2022. In addition, Mindtree, ACC, HCL Technologies, Nestle and Hindustan Zinc will announce their earnings this year. Week. Vinod Nair, Head of Research, Geojit Financial Services, said, “With the onset of the earnings season, the domestic market is also likely to accelerate at a sector-specific pace in the coming days.
The Sensex lost 1,108.25 points or 1.86 per cent, while the Nifty lost 308.70 or 1.73 per cent in the last week’s holiday. Experts said markets will also keep a watch on investment trends of foreign institutional investors and movement of rupee and Brent crude.