Earnings season to affect movement of Indian equities
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.