Earnings season to guide market movement this week

PTI New Delhi | Updated on October 21, 2018 Published on October 21, 2018

Rupee movement, crude oil prices to be keenly watched for further clues

Domestic equity market movement will continue to be guided by the ongoing quarterly earnings season, with some blue-chips like Wipro and Bharti Airtel scheduled to announce their results this week.

According to experts, key factors such as rupee movement and crude oil prices would also be keenly watched for further cues. HCL Tech, Bajaj Auto, Kotak Mahindra Bank and BHEL are among other companies slated to announce their quarterly numbers this week.

“The ongoing turmoil led by financial crunch in the domestic economy, global risk-off and worries over upcoming elections are likely to maintain its burden in the equity market.

“At the same time, it is possible that a good portion of the above mentioned risk factors have been digested by the market and the upcoming impact will depend on developments like stability in global bond yields and trade war,” said Vinod Nair, Head of Research, Geojit Financial Services.

During last week, the Sensex fell 418 points to close at 34,315.63 points on Friday. NBFC counters would also be watched amid liquidity concerns that have hit investor sentiment. There might be volatility in the equity market amid derivatives expiry later this week.

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Published on October 21, 2018
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