Quarterly results, macroeconomic data, and updates on new variables for COVID-19 will focus on Dalal Street this week. Financial stocks will also be in focus ahead of HDFC Bank’s earnings due next weekend, after Nifty Bank posted its best weekly performance since May 2021.
All eyes on the first batch of profits
Ajit Mishra said, “Earnings will now determine the direction of the market and participants are hoping for an encouraging start by IT heavyweights. Although the market is currently ignoring the rise in COVID cases, an extension of strict restrictions imposed by several countries may dampen sentiment.” , said Ajit Mishra, VP Research at Religare Broking.
“The recent surge in COVID cases has prompted some major states to announce restrictions and that may extend if the situation deteriorates further. On the positive side, the banking package has regained some strength, which could help Nifty test the 17,500 area,” he said.
Mishra expects banking, pharmaceutical, information technology and consumer goods stocks to outperform others on Dalal Street this week.
Nifty50 and Bank Nifty both appear to be facing light resistance at current levels, according to Yesha Shah, head of equity research, Samco Securities. However, she said, the primary bullish momentum remains as long as Nifty holds 17,550.
She added, “We suggest that traders maintain a bullish outlook with caution, as a dip below 17750 could lead to a retest of the index to previous support at 16850.”
Mishra expects support for Nifty around 17,400-17,600 levels and resistance in the 18,000-18,200 area. “We reiterate our positive and cautious view and suggest greater focus on risk management as volatility is likely to remain elevated,” he said.
Here are the main factors and events likely to affect Dalal Street in the week of January 10:
Tata Consultancy Services (TCS), Infosys and Wipro will release their quarterly numbers on Wednesday.
Mindtree will report its earnings on Thursday, and HCL Technologies the next day.
HDFC Bank earnings are due on Saturday 15th January.
On Wednesday, separate data on industrial production and consumer inflation are due in the country.
Wholesale inflation data will be released on Friday. Trade figures are also due on this day.
FII . flow
Foreign institutional investors bought net Indian shares worth 3,202.1 crore ($430.5 million) in the first trading week of 2022.
|Safety name||Previous History||Goal||date of registration|
|Ipc Labs||10-Jan-22||The shares were split from 2 rupees to 1 re||Jan 11 22|
|cotton axita||Jan 11 22||Bonus version 1: 2||Jan 12 22|
|GMR Infra||Jan 11 22||Role||Jan 12 22|
|Schablona India||Jan 11 22||merge||Jan 12 22|
|bond trading links||Jan 12 22||General Director||–|
|Sarthak Metals||Jan 12 22||Interim Dividend Re 1||January 13 22|
|Ajanta Pharma||January 13 22||Share buy back||January 14 22|
|Bhatia Telecom and Retail (India)||January 13 22||General Director||–|
|Endo Amen||January 13 22||The stock was divided from Rs 10 to Rs 5||15-Jan-22|
|India Infrastructure Fund||January 13 22||Income Distribution (InvIT)||15-Jan-22|
|James Warren T||January 13 22||Share buy back||January 14 22|
|Srikalahasthi . tubes||January 13 22||merge||January 14 22|
|Add an online store||January 14 22||Bonus Edition 7:10||Jan 17 22|
|Mutherson Some Systems||January 14 22||Role||Jan 17 22|
|NCL Research & Financial Services||January 14 22||General Director||–|
|Starch and Tirupati Chemicals||January 14 22||General Director||–|
United States of America
Auto sales and wholesale inflation data in the world’s largest economy are due on Monday.
Inflation data is due on Wednesday.
Retail sales numbers are due on Friday. The results of the consumer survey will also be announced on the same day.
The UK and Germany will release their GDP numbers on Friday. The UK will also release industrial production data.
China inflation data is due on Wednesday. The country’s trade data is due on Friday.