Advertisement
Friday, Jan 28, 2022
Outlook.com
Outlook.com

Quarterly Earnings, Global Trends To Drive Equity Market This Week: Analysts

Reliance Industries Ltd reported a 7% dip in June quarter net profit on Friday, while ICICI Bank reported a 52 percent increase in June quarter net profit on Saturday.

Quarterly Earnings, Global Trends To Drive Equity Market This Week: Analysts
During the last week, the 30-share BSE benchmark dipped 164.26 points or 0.30 per cent. | Representational Image
Quarterly Earnings, Global Trends To Drive Equity Market This Week: Analysts
outlookindia.com
2021-07-25T13:26:17+05:30

Equity markets would be guided by the ongoing quarterly earnings season and global trends this week and may witness volatility amid the scheduled derivatives expiry, analysts said.

Investors would also keenly track the US Fed interest rate decision, they added.

"We expect volatility to remain high due to the scheduled derivatives expiry of July month contracts. Besides, the earnings season would gain pace and some of the prominent names like Axis Bank, Kotak Bank, LT, Tata Motors, Maruti, Colgate, Tech Mahindra, BHEL, IOC, Sun Pharma, and Indigo will announce their numbers during the week along with several others.

"Besides, an update on the global COVID situation and US Fed meeting outcome on July 28 will be in focus. Markets will first react to the results of index majors like Reliance, ICICI Bank, and ITC in early trade on Monday," said Ajit Mishra, VP Research, Religare Broking.

Reliance Industries Ltd on Friday reported a 7 percent drop in its June quarter net profit as the retail business got hit by the second wave of COVID infections.

"This week, markets will first react to results of Reliance Industries, ITC, and ICICI Bank on Monday. It will track global cues for further market direction," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd said.

ICICI Bank on Saturday reported a 52 percent jump in its June quarter consolidated net profit at Rs 4,747.42 crore.

FMCG major reported an impressive 30 percent growth in Q1 net profit and a 35 percent increase in revenue on the back of a rebound in segments.

"The week will be driven by global sentiments and expectations of firm quarterly results," said Vinod Nair, Head of Research at Geojit Financial Services.

During the last week, the 30-share BSE benchmark dipped 164.26 points or 0.30 percent.

This week, investors would also track other major market drivers -- Brent crude movement, rupee trend, and foreign institutional investors.

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