Quarterly results from blue-chips TCS and Infosys and announcement of macroeconomic data – IIP and inflation – will drive market sentiment in a holiday-shortened week ahead, say experts. Stock markets will remain closed on Tuesday and Wednesday for Dussehra and Muharram, respectively. “In coming weeks, second quarter corporate earnings and key economic data release will set the trend in a truncated trading session in stock markets,” said Vijay Singhania, Founder Director, Trade Smart Online.
“Trading is expected to remain range-bound in the near term as there are too many uncertainties such as the Fed rates, US presidential election and corporate earnings season.”
Earnings season will commence from this week as Tata Consultancy Services is scheduled to announce its September quarter result on October 13, and Infosys will announce its results on October 14.
- Varun Gandhi Under Attack Over Defence Deals: Here’s How
- This Diwali, Let Blind Students Brighten Up your Homes With Candles & Diyas
- CBI Files Supplementary Chargesheet In Sheena Bora Murder Case
- Soha Ali Khan And Vir Das Starrer 31st October Audience Reaction
- Sahara Chief Subrata Roy’s Parole Extended Till November 28
- Simple Tips To Secure Your Debit Card From Fraudsters
- New Zealand & India Team Being Welcomed In Chandigarh
- Mumbai Call Centre Scam: All You Need To Know
- Jammu Kashmir Chief Minister Mehbooba Mufti Appeals To Police: Here’s What She Said
- Shocker From Ahmedabad: Find Out What Happened
- Bigg Boss 10 Day 3 Review: Celebs Fail To Do Well in First Task
- Airtel Offers 10GB Data At Rs 259 For New 4G Smartphone Users
- Aamir Khan Starrer Dangal’s Trailer Launched: First Impressions
- TMC Supporters Attack BJP Leader Babul Supriyo
- Sri Lankan Navy Apprehends 20 Indian Fishermen
Initially, Indian markets along with other Asian markets on Monday will react to the outcome of the crucial US non-farm payrolls data announced on October 7 after close of markets, Singhania added.
The US added 1,56,000 new jobs in September but the unemployment rate in the world’s largest economy rose slightly by 0.1 per cent to five per cent, according to latest government data released yesterday.
On macro front, data on industrial production (IIP) for August is scheduled to come on Monday. Monthly inflation data based on consumer price index (CPI) for September is due on Thursday and wholesale price index (WPI) on Friday.
Investment trend by overseas investors, movement of rupee and crude oil price would also influence sentiment, marketmen said.
Over the last week, the Sensex and Nifty rose 195.18 points, or 0.70 per cent, and 86.45 points, or 1 per cent, respectively.