Q1 Earnings, Macroeconomic Data, and More - Key Triggers for Stock Markets This Week
Q1 Earnings, Macroeconomic Data, and More - Key Triggers for Stock Markets This Week
Investors will closely monitor several factors in the
upcoming week, which could impact the stock market. These factors include the
ongoing first-quarter results (Q1FY24), both domestic and global macroeconomic
data, foreign capital inflow, and the Reserve Bank of India's (RBI) Monetary
Policy Committee (MPC) meeting.
Dalal Street
On the last trading day, domestic equity benchmarks, Sensex,
and Nifty, bounced back with significant gains, breaking a three-day losing
streak, thanks to positive global cues. Sensex soared by 481 points or 0.74%,
closing at 65,721.25, while Nifty ended at 19,517, up 135 points or 0.70%.
Notably, HDFC Bank, Reliance Industries, Infosys, TCS, and
Bharti Airtel were major contributors to the Sensex's gains. However, the mid
and small cap indices slightly under performed the benchmark index. The BSE
Midcap index closed with a 0.65% gain, and the Small cap index ended 0.66%
higher. Over the week, Sensex and Nifty each declined 0.66%, whereas the BSE
Midcap index remained flat, and the BSE Smallcap index gained 1.51%.
Technical Research observed
that while there was some initial pressure on the index during the week, a
rebound in the final session trimmed some losses. Several sectors experienced
declines, with realty, FMCG, and auto being the top losers. Nevertheless, the
broader indices outperformed for another week and gained nearly 1% each.
Domestic market recovered from weak global cues, primarily
driven by positive domestic earnings from IT and pharma stocks.
Looking ahead, the upcoming week will be buzzing with activity in the primary market, as two public issues are set to be rolled out for bidding. Additionally, the domestic market will closely observe the central bank's interest rate decision, making it a crucial week with expected broader range movements and some volatility.
TVS Supply Chain Solutions IPO will open for subscription on Thursday, August 10 and conclude on August 14. Shares will be listed on stock exchanges on August 24.
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Disclaimer: The views and recommendations above are those of individual analysts for education purpose only. We advise investors to check with certified experts before taking any investment decisions
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