19.1 C
Ontario
Monday, May 20, 2024

In the coming week market will take cues from Q3 results

- Advertisement -
- Advertisement -


In the coming week market will take cues from Q3 results

New Delhi, Jan 14 (Ajit Weekly News) In the near term, investors’ trade positions will be more inclined towards the upcoming result season; the overall forecast for earnings growth remains optimistic, projecting double-digit figures, says Vinod Nair, Head of Research, Geojit Financial Services.

Contrary to expectations of weak Q3 results from the IT sector, better-than-expected results along with green shoots of recovery in the IT sector on the back of an improved outlook for BFSI in FY25 positively influenced domestic market sentiments, he said.

With higher-than-expected US inflation and positive job data, the euphoria over early rate cuts by the US Fed has moderated, which has diminished global market sentiments, he added.

On the other hand, oil prices have surged as the conflict in the Red Sea region appears to escalate further. Domestic inflation data for December was marginally lower than anticipated, while industrial production (IIP) witnessed a deceleration more than expected, he said.

Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services said in the coming week market will take cues from Q3 results, India’s inflation, and US PPI data. HDFC Bank, HUL, Ultratech, ICICI Bank, Asian Paints, and several mid-cap companies will announce their Q3 results next week. Thus, we might see stock-specific action. US markets will remain closed on Monday.

–Ajit Weekly News

biz/san/dpb


News Credits – I A N S

- Advertisement -
- Advertisement -spot_img
- Advertisement -spot_img
- Advertisement -spot_img
- Advertisement -spot_img
- Advertisement -
Latest news
Related news