Blue-chip results, IIP data market deciders this week
Last week, the BSE managed to sign off with gains for the fifth straight week by rising 15.53 points, or 0.04%. NSE too ended up 51.90 points, or 0.51%.
Quarterly earnings from blue-chips such as Tata Steel, Tata Motors and SBI and industrial output data for June will be the key pointers of stock market sentiment in the week ahead, say experts.
"Markets will keep a constant watch over the remaining set of quarterly numbers and any further movement is expected to be largely stock specific, depending on results meeting expectations or any important news flow," said Teena Virmani, Vice President, PCG Research, Kotak Securities.
This week, Tata Steel, Tata Motors, SBI, Aurobindo Pharma, NHPC, NMDC, BHEL and GAIL are all lined up for results announcement.
The government is set to release factory data on Friday. "We believe this week to remain majorly driven by the corporate earnings as well as IIP data," said Abnish Kumar Sudhanshu, Research Head, Aadya Trading and Investments Pvt.
Last week, the BSE managed to sign off with gains for the fifth straight week by rising 15.53 points, or 0.04%. NSE too ended up 51.90 points, or 0.51%.
"We continue to have a cautious view in the near term, given the premium valuation and strong price performance in the last 6-9 months. It is time to be stock specific as the vulnerability to the domestic market is high at a premium valuation and global risk," said Vinod Nair, Head of Research, Geojit Financial Services.
The stock market may on Monday react to the strong US jobs data released on Friday.
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