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NEW DELHI :
Trading sentiment within the fairness markets this week will probably be guided by international cues, COVID-19 tendencies and quarterly earnings by market heavyweight TCS, analysts mentioned.
Investors may even monitor motion of rupee and crude oil in addition to progress of monsoon, they added.
“Participants will probably be eyeing key macro indicators like IIP knowledge. Besides, the progress of monsoon and developments on COVID entrance may even be in focus.
“On the earnings front, IT major TCS, will announce its results on July 9,” mentioned Ajit Mishra, VP Research, Religare Broking.
Industrial manufacturing knowledge is scheduled to be introduced post-market hours on Friday.
“Q1 result season would kick start from this week with TCS reporting on 9th July, which would be keenly tracked,” mentioned Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Domestic fairness indices superior for the third straight day to shut close to four-month highs on Friday. During the final week, the BSE Sensex rallied 850.15 factors or 2.41 per cent.
“Indian fairness markets ended with sturdy positive aspects final week on the again of better-than-expected financial knowledge throughout nations and studies of a possible COVID-19 vaccine.
“However, concerns over rising coronavirus cases and chances of second round of lockdown along with trade tensions between US-China continue to linger,” Khemka added.
With 22,771 individuals testing constructive for coronavirus in a single day, the best thus far, India’s COVID-19 tally climbed to 6,48,315 on Saturday, whereas the dying toll rose to 18,655 with 442 new fatalities, in keeping with the Union Health Ministry knowledge.
“It is expected that a definitive movement in markets may be visible once India Inc unveils its Q1 FY21 earnings performance with its first-hand analysis of ground level reality,” mentioned Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote.
According to Sanjeev Zarbade, VP PCG Research, Kotak Securities, “Risks to the markets emanate from further spiraling of infections and flare-up on Indo-China border.”
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