Outlook: Macroeconomic data, earnings of Coal India, State Bank of India key for market

By: | Published: August 9, 2015 11:43 AM

Last leg of quarterly earnings from blue-chip companies like SBI, ONGC and Coal India, macroeconomic data and progress of monsoon would decide the near-term trend of the market, say experts.

India stock marketsInvestors will also follow the progress on important bills like Land Acquisition Bill and GST in Parliament. (AP)

Last leg of quarterly earnings from blue-chip companies like SBI, ONGC and Coal India, macroeconomic data and progress of monsoon would decide the near-term trend of the market, say experts.

Bourses on Monday are likely to react to the US jobs data that was announced on Friday.

Moreover, movement of rupee against the dollar and investment trend by overseas investors would also have implications on next week’s trading.

Investors will also follow the progress on important bills like Land Acquisition Bill and GST in Parliament.

“Apart from the progress of monsoon and market reaction to the last leg of results that will be announced during the week, investors will also keep their focus on Parliament proceedings, which has been in a deadlock,” said Hitesh Agarwal, Head Research at Reliance Securities.

The Monsoon Session will conclude on August 13.

Consumer price index (CPI) data for July and industrial production data for June is scheduled to come out on Wednesday.

Inflation data based on wholesale price index (WPI) for July would be announced on Friday.

Investors would look at these data for further direction.

“Movement of index in near-term will depend on first quarter results of companies like Tata Steel, Sun Pharma, SBI, Coal India, ONGC,” said Vivek Gupta, CMT Director Research of CapitalVia Global Research.

Amid choppy trading, the benchmark BSE Sensex ended the week 121.83 points higher at 28,236.39.

With a large part of the Q1 earnings season through with no positive surprise at the aggregate level, is keeping investors at bay, experts said.

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