Analysts say stock market trends will be guided by a number of factors laid out this week, including inflation, IIP data and quarterly results of IT majors.
Global signals, rupee movements, Brent crude oil and foreign money will also affect Dalal Street this week, they added.
“We have important macroeconomic indicators this week as the IIP and CPI inflation rates will be released on January 12. On the same day, China and the US will also release their inflation rates.
Santosh Meena, Head of Research at Swastika Investmart Ltd. said:
Last week, Sensex fell 940.37 points (1.55%) while Nifty fell 245.85 points (1.36%).
Milind Muchhala, executive director of Julius Baer India, said the Indian stock market, like the global market, entered the new year with a slightly more cautious attitude, continuing a trend seen in December 2022.
Domestic stock markets were marred last week by inflation concerns and continued outflows of foreign capital.
Investor risk sentiment takes a hit after release of Federal Open Market Committee (FOMC) minutes, suggesting further rate hikes in 2023 to keep inflation in check, Geojit Financial Services said Vinod Nair, head of research at .
“This week marks the start of earnings season, with IT giants TCS, Infosys, HCL Tech and Wipro releasing their numbers. On the macroeconomic side, IIP and CPI inflation will be released on January 12th. .
Ajit Mishra, Vice President of Technical Research at Religare Broking Ltd.
Among global factors, investors track US and Chinese inflation rates.
“This week, market participants will be watching inflation in the U.S. and China as the Fed maintains its hawkish tone,” said Apurva Sheth, head of market perspectives at Samco Securities. , U.S. inflation is going to be very important.”
“Back home, the Q3 2023 results season begins with major IT companies reporting their quarterly numbers,” he added.
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