Market Next Week: ONGC, Eicher Motors, Grasim results, macro economic numbers, global cues among top cues for D-Street

Market Next Week: As the Indian markets ended this week on a subdued tone, the benchmark equities in the next week will likely be influenced by multiple factors, including macroeconomic data and the last leg of the Q3 earnings, besides global cues and foreign investors flow, analyst estimate.

They believe the movement of the rupee, crude oil, and bullion market may also dictate the markets' trend in the following week.

In the coming week, participants will first react to the IIP data in early trades on Monday, Ajit Mishra, VP - Technical Research, Religare Broking said. “ On the macroeconomic front, CPI and WPI Inflation on the domestic front and US inflation will be on focus during the week.”

Besides, movement in crude and rupee will also be on the market participants' radar for cues, the analyst at Religare Broking said in his expectations for the next week.

He added, on the earnings front, some prominent names such as ONGC, Siemens, Eicher Motors, Grasim, and Zee will announce their December quarter numbers along with several others.

While Santosh Meena, Head of Research, Swastika Investmart noted that the markets next week will be looking for direction, with India's and the United States' inflation figures serving as key triggers.

“The institutional flow will be important as FIIs' selling has come down after relentless selling in January. Apart from this, the movement of crude oil, the dollar index, and US bond yields will be other important factors,” the analyst at Swastika Investmart also said in his expectations.

“The market continues to be preoccupied with the ongoing results of individual companies as we are now in the thick of the Q3 FY23 results season,” Kaizad Hozdar - Investment Advisor, TrustPlutus Wealth said in his comment for the next week.

On Friday, the Nifty50 and BSE Sensex indices settled at 17,856.50 and 60,682.70 levels. Among the sectoral indices, the decline continued in energy and metal pack while profit taking in select FMCG and auto majors was also weighing on sentiment.

At the same time, buying in IT and financials combined with a recovery in realty and pharma counters restricted the fall and kept the traders busy. Meanwhile, the broader indices outperformed the benchmark and gained in the range of 1-2 per cent on Friday.