Corporate earnings, IIP data to guide markets: Experts
The stock market may see some advances during the week on hopes that the RBI may cut rates later this month, they said.
Industrial production numbers may also have some impact on the trading sentiment this week.
Industrial output data is due on Friday, a key indicator ahead of the RBI's policy review on January 29.
"Going forward the movement in market will be guided by how the dollar rates move, expectations from the December quarter results and hopes of monetary easing," Milan Bavishi, Head Research at Inventure Growth & Securities, said. On expectations from the IT sector in Q3, Religare
Research said in a report: "We expect a muted Q3 for Indian IT sector. Given soft volume growth, we expect modest margin declines across large-caps. Overall, net profits could remain flattish at a sector level, aided partially by rupee depreciation on a period-end basis".
Markets would also await the inflation numbers. If there is a reduction in inflation, then expectations of a rate cut will be strengthened, experts said.
Investors are looking forward to the upcoming quarterly results, which shall have near term impact on market trend. Global news shall also affect the market sentiment. Nifty is likely to witness further buying above 6,025 level and may trade within 6,080-5,950 range," Nidhi Sarswat, Senior Research Analyst,
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