‘Markets to track Q4 earnings, macro data this week’

TCS logged a 9 per cent growth in net profit at Rs 12,434 crore in the fourth quarter of FY24

NEW DELHI: Geopolitical events,” said Santosh Meena, events, macroeconomic data Head of Research, Swastika and quarterly earnings of corporates Investmart Ltd. would guide the stock Investors will be watching market in a holiday-shortened for earnings reports from Infosys, week ahead, analysts said. Bajaj Auto, and Wipro later

Stock markets will remain in the week, he said. closed on Wednesday for Ram On the macroeconomic Navami. front, China’s GDP data, US

“This week promises to be retail sales figures, and movecrucial for the market as fresh ments in the US bond yields worries about a potential conand the dollar index will be flict between Iran and Israel important factors influencemerge. Any significant escalation ing market sentiment, Meena in tensions could trigadded. ger panic selling and volatility Shares of TCS will remain in global equity markets. The in focus on Monday. The commarket will also be closely pany reported its JanuaryMarch monitoring the movement quarterly earnings on of crude oil prices, which are Friday. often impacted by geopolitical The IT services major the fourth quarter of FY24 due to strong domestic business even as the company struggled in its key markets overseas.

In the entire fiscal year, the Tata Group company’s net profit surged 9 per cent to Rs 45,908 crore, while the revenue went up to Rs 2,40,893 crore from Rs 2,25,458 crore a year ago.

“The outlook for the market will be guided by the major global and domestic economic data, India’s WPI inflation data and WPI manufacturing data, China GDP growth rate, US manufacturing production and US initial jobless claims,” Arvinder Singh Nanda, Senior Vice President, Master Capital

Services Ltd, said.

Retail inflation declined to a five-month low of 4.85 per cent in March mainly due to cooling food prices, inching towards the Reserve Bank’s target of 4 per cent, according to official data released on Friday.

India’s industrial production growth accelerated to a four-month high of 5.7 per cent in February 2024 due to good performance of the mining sector, showed the government data released on Friday.

“Investors are closely monitoring Q4 earnings and geopolitical events, which are poised to shape market direction,” said Vinod Nair, Head of Research, Geojit Financial Services.

Investors will be watching for earnings reports from Infosys, Bajaj Auto & Wipro later in the week

logged a 9 per cent growth in net profit at Rs 12,434 crore in