Earnings and aggregate data, Covid-19 likely to affect the market

Earnings and aggregate data, Covid-19 likely to affect the market

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.

The influx of foreign money will remain in the spotlight. Foreign Institutional Investors (FIIs) have emerged as net buyers of Indian stocks in the past few days after three consecutive months of outflows.
Last week, the Sensex and Nifty50 posted a third consecutive weekly gain, led by gains in financial and oil and gas stocks despite losses in healthcare and IT stocks playing the spoiler role. Nifty Bank shares rose 6.4% – its biggest weekly gain 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.

technical outlook

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:

cottages

earnings

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.

macro data

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.

collaborative performance

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

world currencies

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.

Europe

The UK and Germany will release their GDP numbers on Friday. The UK will also release industrial production data.

Asia

China inflation data is due on Wednesday. The country’s trade data is due on Friday.

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