Press Esc to close
Friday 28 August 2015
News updated at 2:19 AM IST
Weather
Max: 30.1°C
Min : 19.6°C
In Bengaluru
Partially cloudy
Breaking News

Earnings, foreign fund movement to drive stock markets this week

New Delhi, October 20, 2013, PTI:

Stock markets would take cues from the ongoing July-September quarter earnings, with HDFC and ICICI Bank among the blue chips set to report results this week, and investors would also closely track overseas fund flow movement for further direction, experts said.

Besides, the next major event on the domestic front is the Reserve Bank of India’s (RBI) monetary policy review on October 29, they added.

“Markets will continue to be volatile as elections are also approaching and RBI’s monetary policy is slated later in the month. In coming sessions, 6,050 shall be crucial deciding level for Nifty in near-term, and the index is likely to witness further buying above this level,” said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio.

Among other major results this week are Cairn India, Wipro, ACC, Ambuja Cements, Hero MotoCorp, NMDC and ITC.

“The other trigger for the markets will be Fed policy meeting and RBI policy meeting at the end of the month. Markets are largely expecting another hike in interest rates from RBI, post the disappointing CPI numbers.

“Going ahead, results of the state elections in December will be an important determinant of the market movement in the months to come,” said Dipen Shah, Head of Private Client Group Research, Kotak Securities.

Indicating worsening of the price situation, inflation - wholesale as well as retail - went up in September.

While the Wholesale Price Index (WPI) based inflation climbed to 7-month high of 6.46 per cent, the one based on Consumer Price Index (CPI) inched closer to double digit at 9.84 per cent.

Meanwhile, on the global front, the Federal Open Market Committee (FOMC) will hold a two-day policy meeting on October 29-30.

The BSE benchmark Sensex last week gained 1.72 per cent to 20,882.89.


Go to Top

Photo Gallery
Bollywood actor Ranbir Kapoor with fashion designer Manish Malhotra at his show...

Bollywood actor Ranbir Kapoor with fashion designer Manish Malhotra at his show...

Students celebrate Onam festival by making floral rangoli ‘pookalam’ at a public school...

Students celebrate Onam festival by making floral rangoli ‘pookalam’ at a public school...

Devotees watch a procession during Kumbh Mela or the Pitcher Festival in Trimbakeshwar...

Devotees watch a procession during Kumbh Mela or the Pitcher Festival in Trimbakeshwar...

Activists of Left Front affiliated peasants organisation break police barricades...

Activists of Left Front affiliated peasants organisation break police barricades...

Boys stand near the charred vehicles after the incidents of violence following the Patel...

Boys stand near the charred vehicles after the incidents of violence following the Patel...

Ex-servicemen continue their indefinite hunger strike over non-implementation of OROP...

Ex-servicemen continue their indefinite hunger strike over non-implementation of OROP...

Bihar Chief Minister Nitish Kumar with his Delhi counterpart Arvind Kejriwal offering prayers...

Bihar Chief Minister Nitish Kumar with his Delhi counterpart Arvind Kejriwal offering prayers...

Leader of the Opposition and CPI(M) State Secretary Surya Kant Mishra participates in a rally...

Leader of the Opposition and CPI(M) State Secretary Surya Kant Mishra participates in a rally...

Army soldiers conduct flag march in a sensitive area of Ahmedabad on Thursday...

Army soldiers conduct flag march in a sensitive area of Ahmedabad on Thursday...

Special Operation Group (SOG) jawans take positions near the house where militants were hiding...

Special Operation Group (SOG) jawans take positions near the house where militants were hiding...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523