New Delhi: A number of Macreconomic data announcements marched for a week along with quarterly income from IT majors, including InfoOSUS and TCS, tended to dictate trends in the equity market, which began in 2022 on a strong footing, analysts said.
Meanwhile, market participants will maintain a close watch on various developments and news around Covid cases that are increasing both in front of global and domestic, they added.
“This majoring in Infosys, TCS, Wipro, HCL Tech and Mindtree will announce their number.
In addition, Banking HDFC HDFC results are also scheduled.
On the macroeconomic front, participants will target IIP, CPI inflation, and WPI inflation data also during weeks.
On Middle of all, global cues and updates about the Covid situation will remain on the participant’s radar, “said Ajit Mishra, VP Research, Religare Broking.
Income will determine the current market trend and participants hope the initial is encouraging by IT heavy classes, he said.
Even though the market is currently facing the increase in Covid cases, the expansion of the strict limit imposed by some states might be sentiment denses, added Mishra.
Santosh Meena, Research Head, Swastika Investmart Ltd., said, “The market will remain busy dealing with income from the giant …
on macro numbers, IIP and CPI will also be announced on January 12 while WPI will be announced on January 14.” He further said the Covid case jumped sharply throughout the world but the market was satisfied with it because of hospitalization and his death rate was very low.
“The market will continue to oversee the development of the third wave.” Meena added that in front of the global, the increase in crude oil prices could be a cause of concern while the number of inflation from China and the retail sales number from the US would be another important factor.
Yesha Shah, Head of Equity Research, Samco Securities said, “The Q3FY22 income season will begin with a large IT company first.
In front of the macroeconomic, investors will oversee the domestic inflation rate, as well as inflation figures for the United States and China.” Last week, The BSE Sensex benchmark jumped 1,490.83 points or 2.55 percent.
“This week will be driven by trends in the results of initial income with the IT sector in focus.
This is also a busy week in terms of the release of macroeconomic data points such as inflation data for December and manufacture and industrial production data for November,” said Vinod Nair, Head Research at Geojit Financial Services.
Investors will also be careful of movements in rupees and foreign institutional investors (FIIS).