Advertisement
Sunday, Aug 14, 2022
Outlook.com
Outlook.com

Covid-19 Vaccine Rollout, Quarterly Earnings Expected To Drive Market Trends This Week

The domestic market will shift its focus on the banking and finance sector as major banks and NBFCs are to release their quarterly results, experts say

Covid-19 Vaccine Rollout, Quarterly Earnings Expected To Drive Market Trends This Week
Representational Image | PTI
Covid-19 Vaccine Rollout, Quarterly Earnings Expected To Drive Market Trends This Week
outlookindia.com
2021-01-17T12:09:59+05:30

The domestic equity market will be largely guided by the ongoing quarterly earnings as well as global cues in the coming week and indices may witness volatility in the run-up to the Budget, according to analysts.

Besides, investors will keep tracking the latest developments and trends on the Covid-19 pandemic front, especially the vaccine rollout in the country.

"Going ahead, the market could be volatile given the ongoing earning season and the weak global cues. Run-up to the Budget would also add to the volatility," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Market experts said there will be stock-specific action as the earnings season unfolds.

Some of the major earnings announcements this week are from Bank of Maharashtra, Bajaj Finance, Federal Bank, Asian Paints, Bajaj Auto and Reliance Industries Limited.

Meanwhile, the country's largest private sector lender HDFC Bank on Saturday reported a 14.36 per cent jump in consolidated net profit to Rs 8,760 crore for the December quarter.

"Along with the weak global market, this week, the domestic market will shift its focus on the banking and finance sector as major banks and NBFCs are to release their quarterly results. Markets can be volatile going forward including concerns over how will the Union Budget be?," said Vinod Nair, Head of Research at Geojit Financial Services.

Traders said as the vaccine rollout begins, there may be plenty of swings in stock prices.

"Investors will keep a close eye on earnings announcement and vaccine drive rollout in India," Satish Kumar, Research Analyst, Choice Broking said.

The first Covid-19 vaccine shots in India were given on Saturday to nearly two lakh frontline healthcare and sanitary workers as Prime Minister Narendra Modi rolled out the world's largest inoculation drive against the pandemic that has caused 1,52,093 deaths and upended millions of lives in the country.

Moreover, movement in Brent crude, rupee and investment patterns of foreign institutional investors will also be monitored.

During the week, the Sensex advanced 252.16 points or 0.51 per cent while the Nifty rose 86.45 points or 0.60 per cent.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement