Corporate earnings to drive markets this week
The quarterly results of companies, including bluechips SBI, Tata Motors and Coal India, will decide the course of the stock market this week, according to experts.
"Sentiment continues to be positive. However, rising crude prices remains to be a concern for the Indian markets," said Anita Gandhi, Whole Time Director, Arihant Capital Markets.
Among major companies scheduled to release their earnings this week are: SBI, Tata Motors, BHEL, Cipla, CIL and NHPC.
"In the near term, market will continue to gauge on the ongoing Q2 results," said Vinod Nair, Head of Research, Geojit Financial Services.
"The results season is in the middle of completion. Mixed numbers have come out. No clear trend is emerging to state forcefully that all is well with the economy. Some pockets are impacted but some are still unclear what would be the impact of GST/demonetisation," said Jimeet Modi, Founder & CEO, SAMCO Securities.
Foreign investors, a major driver for the Indian equity market, turned net buyers in October and pumped in over Rs 3,000 crore in the equity markets after two months of selling.
Last week, the Sensex rose, notching up a significant gain of 528.34 points, or 1.59 per cent. The Nifty was up 129.45 points, or 1.25 per cent, during the past week.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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