TCS, Infosys results, macro data to drive markets this week: Analysts

PTI Updated - October 09, 2022 at 03:55 PM.

Trading in the domestic equity market this week will be influenced by quarterly results from TCS and Infosys, besides inflation and industrial production data as well as global trends, analysts said.

Movement of the rupee, which has slumped to record lows against the US dollar, will also be tracked by investors, they added.

"This week, participants will be eyeing important macroeconomic data viz IIP, CPI and WPI... Besides, the week also marks the beginning of the earnings season with IT majors like TCS, Infosys, HCL Tech and Wipro announcing their numbers along with two other heavyweights Bajaj Auto and HDFC Bank," said Ajit Mishra, VP-Research, Religare Broking Ltd.

Performance of the US markets, FIIs' trend, and movement in currency and crude will also remain on their radar, Mishra added.

Last week, the 30-share BSE benchmark Sensex jumped 764.37 points or 1.33 per cent. The domestic equity markets were closed on Wednesday for Dussehra.

Apurva Sheth, Head of Market Perspectives, Samco Securities, said this week is going to be a roller-coaster ride as a series of important events are lined up.

"Markets across the globe will be dominated by the FOMC (Federal Open Market Committee) minutes that will be released this week. While global investors will be keenly monitoring inflation figures in the United States and China, Indian CPI print will be a key domestic factor to monitor," he noted.

Further, the Indian IT companies will kick start the quarterly result season, Sheth added.

"The market's attention will be on quarterly earnings this week, particularly for IT stocks. Additionally, domestic market's movement would be significantly affected by inflation data that is anticipated for release this week," said Vinod Nair, Head of Research at Geojit Financial Services.

Published on October 9, 2022 10:25

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