Q3 earnings, macro data in focus

Quarterly earnings from frontline companies — Tata Consultancy Services (TCS) and Infosys, to begin with — and the release of macroeconomic numbers will decide stock market behaviour this week, experts said.

“The December quarterly earnings from blue-chip companies and key macroeconomic data release are the big triggers for the market. We are entering continuous news flow from now like earnings season and the budget,” said Vijay Singhania, founder-director, Trade Smart Online.

“If news that follows through is positive, we will see a continuation of the ongoing rally. But if the news gets negative, then we may see some correction taking place.”

“Going forward, market movement will depend on important domestic data, including industrial production and inflation, which is scheduled to be released on Thursday,” said Rohit Gadia, founder and CEO, CapitalVia Global Research.

The Sensex and the Nifty rose 132.77 points, or 0.49%, and 58 points, or 0.70%, respectively, last week.

“Markets will first react to advance (estimates) of gross domestic product (GDP) data released by the government after market hours on Friday,” Singhania said.