Earn­ings sea­son to af­fect move­ment of In­dian eq­ui­ties

Muscat Daily - - BUSINESS -

Mumbai, In­dia – Up­com­ing quar­terly re­sults and Par­lia­ment’s mon­soon ses­sion, as also the di­rec­tion of for­eign funds flow will set the course for In­dia’s eq­uity in­dices in this week, mar­ket ob­servers opined.

With mar­kets al­ready at dizzy­ing heights, po­ten­tial trig­gers like news on mon­soon’s progress and global trends like monetary pol­icy re­view by ma­jor in­ter­na­tional cen­tral banks could un­leash ‘volatil­ity’, an­a­lysts feared.

“The mar­kets will fo­cus on earn­ings this week though the ex­pec­ta­tions re­main muted for the last quar­ter. Mar­kets are try­ing to an­a­lyse the earn­ings im­pact due to goods and ser­vices tax (GST) dis­rup­tion,” Deven­dra Nevgi, chief ex­ec­u­tive of Zyfin Advisors, told IANS.

Apart from quar­terly re­sults, mar­ket par­tic­i­pants are ex­pected to track sev­eral events like the com­mence­ment of Par­lia­ment’s mon­soon ses­sion on Mon­day, re­spec­tive meet­ings of Euro­pean Cen­tral Bank, Bank of Ja­pan and China’s sec­ond quar­ter GDP fig­ures.

The Na­tional Se­cu­ri­ties De­pos­i­tory’s (NSDL) fig­ures re­vealed that for­eign port­fo­lio in­vestors (FPIs) in­vested in a to­tal of eq­ui­ties worth US$57.01mn, dur­ing the week ended July 14.

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