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All eyes on Q2 results, TCS & Infosys earnings
The domestic equity market may witness range-bound trade during the holiday-truncated week ahead, and will largely be guided by quarterly earnings from TCS and Infosys along with global trends, according to market analysts.
New Delhi: The domestic equity market may witness range-bound trade during the holiday-truncated week ahead, and will largely be guided by quarterly earnings from TCS and Infosys along with global trends, according to market analysts.
"Since we are heading towards the earnings season, a lot of cues will now be taken from important results of TCS, Wipro and Infosys. Volatility may be inching up in specific sectors and some rotation may be seen," Mustafa Nadeem, CEO of Epic Research, said.
TCS is scheduled to kick start the earnings season on Thursday followed by Infosys on Friday. We will also see global developments with the US-China trade talks taking the lead, he added.
Equity markets will remain closed on Tuesday for Dussehra. Investors are cautious and watchful about the earnings season which at this juncture looks less enthusiastic.
There is a possibility that equity markets will trade cautious and range bound, said Motilal Oswal, Managing Director of Motilal Oswal Financial Services.
Bourses are also expected to track industrial production data, which is scheduled to be announced post market hours on Friday.
Among global events, investors would keep an eye on the Federal Open Market Committee (FOMC) minutes slated to be released on Wednesday (October 9, 2019).
"On the global front, markets would watch out for US job report that would determine the Fed's next move," Siddharth Khemka – Head, Retail Research, Motilal Oswal Financial Services Limited said.
Besides global cues, market participants would also keep a close watch on rupee-dollar trend, oil prices and investment pattern by overseas investors.
During the last week, which also had a holiday-shortened, the Sensex plummeted 1,149.26 points or 2.96 per cent.
