What will steer the market today: TCS, Infosys earnings, CPI, IIP data and other key things to watch out for

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Published: April 12, 2019 8:51:29 AM

The Indian headline indices- Sensex and Nifty, are likely to lower tracking mixed global cues on Friday morning. Today, the investors will keenly watch the Jan-Mar earnings of TCS and Infosys along with IIP and CPI numbers.

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The Indian headline indices- Sensex and Nifty, are likely to lower tracking mixed global cues on Friday morning. Today, the investors will keenly watch the Jan-Mar earnings of TCS and Infosys along with IIP and CPI numbers.  SGX Nifty settled at 11,639.50, 36.50 points down than the previous close. Yesterday, while Sensex ended at 38,607.01 level, 0.06 per cent above than the last close, Nifty closed at 11,596.70 mark, 12.40 points higher than the previous close. We take a look at the key factors which may drive the Sensex, Nifty today:

Inflation/IIP Data: The investors will keenly watch the the retail inflation data and index of industrial production or IIP to be released today. According to Reuters recent poll, the retail inflation is likely to have accelerated in March on slightly higher food prices, at an annual rate of 2.80 percent in March, up from 2.57 percent in February, but remain under the RBI’s medium-term target of 4 percent. If the forecast is realized, March will be the eighth month in a row with below-target inflation, giving the RBI room to go for another rate cut this year. 

IT quarterly results: today the two major IT firms Infosys and TCS will be releasing their Jan-Mar earnings. The market experts are expecting good results across the IT sector. This is the first time when both the top IT companies are releasing their results together.  

Brexit Deadline Extended: British Prime Minister Theresa May  has been granted a new Brexit deadline of October 31 by European Union to resolve Britain’s domestic  stand-off on the issue.

FII/DII: On Thursday, while the foreign institutional investors bought equities worth Rs 4679.16, the domestic institutional investors invested around Rs 2,879.46 crore. While the net value of FII was Rs 476.51 crore yesterday, DII’s net value was in negative at Rs 16.58 crore.  

US Jobless claims: The US jobless claims dropped to 196,000 in the week ended April 6, according to Labor Department figures on Thursday. This is the lowest level since October 1969.

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