Quarterly earnings to steer markets this week; global crude oil movement, rupee will influence trading: Analysts

For the week ahead, results from key index heavyweights including large corporate banks will set the tone for earnings season

Press Trust of India April 22, 2019 12:02:49 IST
Quarterly earnings to steer markets this week; global crude oil movement, rupee will influence trading: Analysts
  • Bourses may also witness bouts of volatility till clarity emerges on the political front post elections, experts added

  • Among other major companies slated to announce their financial numbers this week are Maruti Suzuki India and Hero MotoCorp

  • Over the last week which had two market holidays, the Sensex rose 373.17 points, or 0.96 percent

New Delhi: Stock market sentiment this week would be largely guided by the ongoing fourth quarter results season, with a host of front-line companies slated to come out with their financial report cards, say analysts.

Besides, global crude oil movement, rupee and investment trend by overseas investors would keep influencing trading, they added.

"In the near-term investors' focus will be on Q4 earnings and elections. For the week ahead, results from key index heavyweights including large corporate banks will set the tone for earnings season.

"Continuity in FIIs flows and corporate earnings coming in-line with expectation will keep market afloat," said Vinod Nair, Head of Research, Geojit Financial Services.

Bourses may also witness bouts of volatility till clarity emerges on the political front post elections, experts added.

"Markets are expected to remain subdued and under pressure at least till the election season is over. However, volatility will continue to remain on the higher side as knee-jerk reactions are expected due to the ongoing results.

"The financial services industry will be on this week's radar as important results of companies such as Indiabulls Housing Finance, Yes Bank, M&M Financial, Axis Bank, SBI Life are going to be announced," said Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote.

"After a period of significant momentum ahead of the general elections, the market may take a pause in some kind of an interim profit-booking," said Joseph Thomas-Head Research, Emkay Wealth Management.

Quarterly earnings to steer markets this week global crude oil movement rupee will influence trading Analysts

Representational image. Reuters

The scenario of a slowdown in global growth as also the definitive prospects of higher fuel prices and a weaker currency may also be working on the minds of the market participants at this juncture, he added.

Among other major companies slated to announce their financial numbers this week are Maruti Suzuki India and Hero MotoCorp.

Over the last week which had two market holidays, the Sensex rose 373.17 points, or 0.96 percent.

On Monday, movement may be seen in index heavyweight Reliance Industries and HDFC Bank which announced their March quarter earnings over the extended weekend.

Reliance Industries Thursday posted the highest quarterly net profit by any Indian private sector firm with a 9.8 per cent rise in earnings in the period ended 31 March after robust business in retail and telecom sectors offset a dip in oil refinery margins.

The oil-to-telecom conglomerate reported a consolidated net profit at Rs 10,362 crore, or Rs 17.5 per share.

Private lender HDFC Bank Saturday reported a 23 percent jump in its net profit to Rs 5,885.12 crore for the March quarter on healthy growth in its net interest income.

Jet Airways would also remain in focus amid a slew of negative news surrounding the firm.

Updated Date:

also read

Market Roundup: Sensex down by 271.07 points, Nifty closes at 15,767.55; today's top gainers and losers
Business

Market Roundup: Sensex down by 271.07 points, Nifty closes at 15,767.55; today's top gainers and losers

At the closing bell, Sensex was 52,501.98, down by 271.07 points or 0.51 percent. Nifty closed at 15,767.55 after losing 101.70 points or 0.64 percent

Market Roundup: Sensex, Nifty drop marginally amid mixed global cues; today's top gainers and losers
Business

Market Roundup: Sensex, Nifty drop marginally amid mixed global cues; today's top gainers and losers

Among the sectoral indices, Nifty Bank, Financial Services, Metal, PSU Bank, and Private Bank were trading in the red while the Nifty IT was trading high

Market Roundup: Sensex down by 333 points, Nifty closes at 15,635; today's top gainers and losers
India

Market Roundup: Sensex down by 333 points, Nifty closes at 15,635; today's top gainers and losers

The top gainers on the BSE were PowerGrid, NTPC, Titan, HCL Tech, and Asian Paint. The top laggards were Larsen and Toubro, Reliance, Bajaj Finserv, IndusInd Bank, and Bajaj Finance