Jan 19, 2020
Corporate earnings, budget expectations to drive equities this week: Analysts
New Delhi: Equity market progress this week will broadly hinge on ongoing quarterly corporate results and expectations being built around the upcoming Union Budget, according to analysts.
Investors in domestic market will closely watch quarterly earnings from companies such as Kotak Mahindra Bank, Bank of Maharashtra, Axis Bank, Canara Bank NSE -4.11 % and Bank of Baroda this week.
The BSE gauge Sensex logged a hefty 345.65 points or 0.83 per cent gains in the previous week.
The recent rally has been enthused by a host of factors, mostly global, like cooling of US-Iran tensions and signing of an initial trade deal between Washington and Beijing to defuse their 18-month trade tussle.
The Indian market is now looking beyond global factors to focus on earnings announcements and upcoming budget, as both are expected to underpin the sentiment.
“Going ahead, investors should remain cautious as markets are at all-time high and should expect stock-spec ..
Market will also be guided by other key factors like Brent crude movement, rupee-dollar trend and foreign investment flows.
“…Overall expectation is that Q3 is likely to provide a strong push to earnings growth trajectory for FY20 and 21. Further, market is expecting strong measures from the government from budget,” Vinod Nair, Head of Research, Geojit Financial Services said.
On Monday, all eyes will be tracking the movement in TCS shares, as the IT major after market hours on Friday reported a muted 0.2 per cent growth in consolidated net profit at Rs 8,118 crore for the third quarter.
Shares of Reliance Industries will also be in focus as the company on Friday after market hours posted a 13.5 per cent rise in consolidated net profit to a record Rs 11,640 crore in the October-December period of FY2019-20.
“Global markets witnessed a strong rally as easing trade tensions and promising economic data buoyed the sentiments. Indian markets too ended the week with strong gains especially in midcaps and small caps,” Hemang Kapasi, Portfolio Manager – Equity Investment Products, Sanctum Wealth Management, said.
Registered Office: CoWrks, Level 3, Birla Centurion, Century Mill Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400030 Contact number: +91 22 6288 6100 | CIN: U74140MH2015PTC264932
CoWrks, Level 3,
Birla Centurion, Century Mill Compound,
Pandurang Budhkar Marg, Worli, Mumbai - 400030
Contact number: +91 22 6288 6100
| CIN: U74999MH2017PTC302008 |
Real Estate Regulatory Authority License no. (A51900011805)
For any grievance or disputes please contact us at the above address and phone number or send us an email to firstname.lastname@example.org. In case you are not satisfied with the response, you may contact the stock exchanges directly: (NSE) Tel: +91 22 2659 8190 / 1800 2200 58 (Toll free) or Email: email@example.com; (BSE) Tel: +91 22 2272 809 or Email: firstname.lastname@example.org.
Filing complaints on SCORES – Easy & Quick a. Register on SCORES portal b. Mandatory details for filing complaints on SCORES I. Name, PAN, Address, Mobile Number, E-mail ID c. Benefits: I. Effective communication II. Speedy redressal of the grievances
Trading and investments in Securities are subject to market risk, there is no assurance or guarantee of returns. Please read the PMS Disclosure Document, Risk Disclosure Document and Dos and Don’ts prescribed by the Exchanges and Mutual Fund Offer Documents carefully before investing
Attention Investors : No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No need to worry about the refund either, as the money remains in the investor’s account. Prevent Unauthorized Transactions in your demat and broking account −> Update your mobile numbers/email IDs with your stock brokers and depository participants. Receive information of your transactions directly from Exchange & NSDL on your mobile/email at the end of the day..... Issued in the interest of Investors. (Ref Circular No : NSE/INSP/27346, BSE/ 20140822-30, NSDL 2014/94/97 & 2015 / 104). KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.