1. Market Outlook: Earnings to steer market in holiday-shortened week

Market Outlook: Earnings to steer market in holiday-shortened week

Infosys, which announced its March quarter results last Friday, when the stock market was closed, will be in the limelight. TCS is scheduled to announce its FY16 earnings on Monday.

By: | Published: April 17, 2016 9:59 AM
BSE Sensex, NSE Nifty Stock market will remain closed on Tuesday for Mahavir Jayanti.

Fourth quarter earnings will be the key driving force behind the movement of the stock market in a holiday-shortened week ahead, say experts.

Stock market will remain closed on Tuesday for Mahavir Jayanti.

“The next major trigger for the Indian market is Q4 results. Shares of Infosys and TCS will be in spotlight on Monday. Trading on the domestic bourses will resume on Monday after an extended weekend,” said Vijay Singhania, Founder- Director, Trade Smart Online.

Stock markets were closed on Thursday and Friday on account of ‘Ambedkar Jayanti’ and ‘Ram Navami’.

Infosys, which announced its March quarter results last Friday, when the stock market was closed, will be in the limelight. TCS is scheduled to announce its FY16 earnings on Monday.

Infosys, India’s second-largest IT services firm, on Friday reported better-than-expected 16 per cent rise in the fourth-quarter net profit and forecast strong revenue growth for the current fiscal on new client additions.

“Other major triggers for the market include macroeconomic data, trend in global markets, investment by foreign investors, movement of the rupee against the dollar and crude oil price,” he added.

Among macroeconomic data, inflation based on wholesale price index (WPI) for March 2016 is scheduled on Monday.

“The earnings season will play a key role in how market responds in coming days. Also, agriculture stocks are likely to be in focus after a greater than average forecast of rainfall,” said Rohit Gadia, Founder & CEO, CapitalVia Global Research.

Wipro and HDFC Bank would also announce their earnings this week.

Over the past week, the benchmark Sensex zoomed 952.91 points to end at 25,626.75.

Tags: BSE Sensex
  1. No Comments.

Go to Top