Inflation data, Q4 earnings, to drive stock markets this week: Analysts

NEW DELHI: The combined market valuation of six of the top-10 most valued firms eroded by Rs 1,73,097.59 crore last week, with HDFC Bank and Life Insurance Corporation of India taking the maximum hit in line with weak equities.

Last week, the BSE benchmark tanked 1,213.68 points or 1.64 per cent.

The market valuation of HDFC Bank slumped Rs 60,678.26 crore to Rs 10,93,026.58 crore.

LIC’s valuation tanked Rs 43,168.1 crore to Rs 5,76,049.17 crore.

Reliance Industries faced an erosion of Rs 36,094.96 crore to Rs 19,04,643.44 crore from its market valuation.

The market capitalisation (mcap) of ICICI Bank declined by Rs 17,567.94 crore to Rs 7,84,833.83 crore, and that of State Bank of India went lower by Rs 11,780.49 crore to Rs 7,30,345.62 crore.

ITC’s valuation dipped by Rs 3,807.84 crore to Rs 5,40,838.13 crore. However, the mcap of Hindustan Unilever climbed Rs 33,270.22 crore to Rs 5,53,822.16 crore.

Tata Consultancy Services (TCS) added Rs 20,442.2 crore, taking its valuation to Rs 14,09,552.63 crore.

The mcap of Bharti Airtel rallied by Rs 14,653.98 crore to Rs 7,38,424.68 crore, and that of Infosys went up by Rs 3,611.26 crore to Rs 5,91,560.88 crore.

NEW DELHI: Stock markets will be driven by domestic inflation data, ongoing quarterly earnings from corporates and global trends this week, analysts said.

News flows around the general election would also be tracked by investors, market experts said.

Besides, investors would also take cues from the trading activity of foreign investors, the movement of global oil benchmark Brent crude and the rupee-dollar trend.

“Investors will be bombarded with economic data on both domestic and global fronts. Domestically, watch for Consumer Price Index (CPI) and Wholesale Price Index (WPI). Globally, focus will be on the US Producer Price Index (PPI) and Consumer Price

Index (CPI) figures.

“Additionally, Federal Reserve Chair Jerome Powell’s speech will be a key event to watch. China’s industrial production data and Japan’s GDP figures round out the important releases for the week,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.

Vinod Nair, Head of Research at Geojit Financial Services, said that the current trend in the domestic markets is likely to continue in the