Advertisement
Monday, Nov 29, 2021
Outlook.com
Outlook.com

Quarterly Earnings, Global Trends To Drive Equity Market This Week: Analysts

Reliance Industries Ltd reported a 7% dip in June quarter net profit on Friday, while ICICI Bank reported a 52 percent increase in June quarter net profit on Saturday.

Quarterly Earnings, Global Trends To Drive Equity Market This Week: Analysts
During the last week, the 30-share BSE benchmark dipped 164.26 points or 0.30 per cent. | Representational Image
Quarterly Earnings, Global Trends To Drive Equity Market This Week: Analysts
outlookindia.com
2021-07-25T13:26:17+05:30

Equity markets would be guided by the ongoing quarterly earnings season and global trends this week and may witness volatility amid the scheduled derivatives expiry, analysts said.

Investors would also keenly track the US Fed interest rate decision, they added.

"We expect volatility to remain high due to the scheduled derivatives expiry of July month contracts. Besides, the earnings season would gain pace and some of the prominent names like Axis Bank, Kotak Bank, LT, Tata Motors, Maruti, Colgate, Tech Mahindra, BHEL, IOC, Sun Pharma, and Indigo will announce their numbers during the week along with several others.

"Besides, an update on the global COVID situation and US Fed meeting outcome on July 28 will be in focus. Markets will first react to the results of index majors like Reliance, ICICI Bank, and ITC in early trade on Monday," said Ajit Mishra, VP Research, Religare Broking.

Reliance Industries Ltd on Friday reported a 7 percent drop in its June quarter net profit as the retail business got hit by the second wave of COVID infections.

"This week, markets will first react to results of Reliance Industries, ITC, and ICICI Bank on Monday. It will track global cues for further market direction," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd said.

ICICI Bank on Saturday reported a 52 percent jump in its June quarter consolidated net profit at Rs 4,747.42 crore.

FMCG major reported an impressive 30 percent growth in Q1 net profit and a 35 percent increase in revenue on the back of a rebound in segments.

"The week will be driven by global sentiments and expectations of firm quarterly results," said Vinod Nair, Head of Research at Geojit Financial Services.

During the last week, the 30-share BSE benchmark dipped 164.26 points or 0.30 percent.

This week, investors would also track other major market drivers -- Brent crude movement, rupee trend, and foreign institutional investors.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Heavy Fines, Media Gag: Maharashtra Learns From Past As It Gears To Tackle Omicron

Heavy Fines, Media Gag: Maharashtra Learns From Past As It Gears To Tackle Omicron

Maharashtra CM Uddhav Thackeray has instructed all the ministers in charge of the districts to tighten coordination with the local administration to ensure proper prevention of another Covid-19 outbreak.

Omicron Shows Why Countries Need To Start Sharing Their Vaccines

Omicron Shows Why Countries Need To Start Sharing Their Vaccines

'Despite the repeated warnings of health leaders, our failure to put vaccines into the arms of people in the developing world is now coming back to haunt us', wrote former British PM Gordon Brown.

Iyer Plays Down Record, Says 'Important Thing Is To Win Match'

Iyer Plays Down Record, Says 'Important Thing Is To Win Match'

Shreyas Iyer hit 105 and 65 against New Zealand to become the first Indian batter to score a century and half-century in his debut Test match.

Covid-19: Experts' Take On Omicron And Possibility Of Third Wave In India

Covid-19: Experts' Take On Omicron And Possibility Of Third Wave In India

Though the health experts and scientists in India have advised caution yet they feel that the current immune profile of the majority of the population in India makes them less vulnerable to Omicron as compared to any other country in the world.

Advertisement