Stock Market This Week: Trading in the stock market this week would be influenced by a host of quarterly earnings from corporates such as IT major Infosys, geopolitical situation in West Asia and crude oil prices, PTI reported quoting analysts.
Besides, progress of southwest monsoon and trading activity of foreign investors would be key drivers for market movement, analysts added.
“This week is expected to be driven by a combination of corporate earnings, domestic macroeconomic releases, and global developments. Progress of the southwest monsoon and kharif sowing activity will also remain important monitorables, given their implications for rural demand, food inflation, and the Reserve Bank of India’s future policy stance.
“Globally, investors will continue to track developments surrounding geopolitical tensions in West Asia and their impact on crude oil prices and global risk sentiment,” PTI quoted Ajit Mishra, SVP, Research, Religare Broking Ltd.
“Investor focus this week will remain firmly on the evolving geopolitical situation in the Middle East as tensions between the United States and Iran continue to dominate global market sentiment, according to PTI.
“Any signs of de-escalation could improve risk appetite and support financial markets, while further military escalation or disruptions to shipping through the Strait of Hormuz could trigger renewed volatility across global asset classes,” Ponmudi R, CEO – Enrich Money, an online trading and wealth tech firm, said.
Domestically, investor focus is expected to shift increasingly towards stock-specific opportunities as the first-quarter earnings season gathers pace, he added.
Reliance Industries Ltd, India’s most valuable company, reported record quarterly core profit and EBITDA for the June quarter, powered by strong performances across its oil-to-chemicals and telecom businesses.
HDFC Bank on Saturday reported a 5 per cent increase in standalone profit to Rs 19,060 crore for the June quarter. ICICI Bank reported a 13.88 per cent jump in June quarter consolidated profit at Rs 15,440 crore on the back of faster credit growth, according to PTI.
Private lender Kotak Mahindra Bank logged a 22.55 per cent rise in consolidated net profit to Rs 5,480.46 crore for the first quarter. Axis Bank recorded a 22.23 per cent jump in consolidated net profit for the June quarter at Rs 7,632.31 crore. (With Agency Inputs)
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
