Macro data, TCS earnings, global trends to guide mkts this week: Analysts

New Delhi: Equity investors will focus on macroeconomic data, upcoming first quarter earnings season and global trends for direction this week, analysts said.
“The domestic market will continue to track cues from the global markets in order to gain direction in movement. Reducing Covid cases and progress in vaccination will continue to pump optimism in the market,” said Vinod Nair, Head of Research at Geojit Financial Services.
Services PMI data to be released this week may influence the trading sentiment, he added.
Nirali Shah, Head of Equity Research, Samco Securities said, “Large and mid-cap IT companies will remain in focus this week as Q1 FY22 result season commences in India.”
Tata Consultancy Services will kick off the first quarter earnings season as it will announce its earnings on Thursday.
“Any disappointment on the earnings front could weaken the overall positive sentiments. However, we expect the earnings momentum to accelerate given the pickup in the pace of vaccination and the further opening of the economy. Good monsoon further supports bullish biasedness,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services said.
Apart from this, trend in rupee, Brent crude and movement of foreign institutional investors would also be monitored.
During the last week, the 30-share BSE index declined by 440.37 points or 0.83 per cent.

Leave a Reply

Your email address will not be published.