Q1 earnings and 7 other factors that may steer market in the week ahead

Q1 earnings and 7 other factors that may steer market in the week ahead thumbnail
NEW DELHI: After months of indecisiveness and dullness, barring some intermittent sparks, the bulls put up a brilliant show during the week gone by.

Buoyed by a sharp drop in crude oil prices, a recovery in the rupee and earnings optimism, domestic equities scaled record highs during the week.

On a weekly basis, the S&P BSE Sensex gained 2.47 per cent while the broader Nifty50 index of the National Stock Exchange (NSE) shut shop with 2.28 per cent gains.

Going forward, June quarter earnings, macro data and geopolitical developments will continue to influence investor sentiment.

Here’s a lowdown on the key factors that are likely to steer market in the coming week –

June quarter earnings
An action-packed week awaits on the earnings front, as several big names are scheduled to announce their Q1 numbers. FMCG major Hindustan Unilever (HUL) is slated to release its results on Monday, July 16, while Zee, Crisil and Ashok Leyland will announce theirs on Tuesday, July 17. Bandhan Bank, JK Tyre, Mindtree, RCom and Ultratech Cement are expected to declare earnings on Wednesday, July 18. Bajaj Finserv, Bajaj Finance and Kotak Mahindra Bank will announce their numbers on Thursday, July 19. Wipro, Bajaj Auto, MCX and HDFC Standard Life Insurance Company will release theirs on Friday, July 20.

WPI numbers
On the macro front, the government will announce wholesale price inflation (WPI) for June 2018 on Monday, July 16. Wholesale inflation accelerated to a 14-month high in May, driven by a broad-based increase in prices that had spilled over to the retail level as well. WPI rose by 4.43 per cent YoY in May 2018, compared with 3.18 per cent in April and 2.26 per cent a year earlier.



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