Advertisement
trendingNowenglish1846200https://zeenews.india.com/business/news/finance/q3-earnings-of-ril-wipro-and-itc-to-drive-markets-this-week_1846200.html

Q3 earnings of RIL, Wipro and ITC to drive markets this week

Major companies slated to announce their December-quarter results this week include Kotak Mahindra Bank, Wipro, Reliance Industries, Axis Bank, HCL Technologies, UltraTech Cement, Idea Cellular, Cairn India and ITC.

Q3 earnings of RIL, Wipro and ITC to drive markets this week

New Delhi: Third-quarter results of blue-chips like RIL, Wipro and ITC, as well as global market trends, China GDP data, movement of rupee and oil will dictate stock market trading this week, say experts.

"Trend in global markets, investment by foreign investors, movement of rupee against the dollar, crude oil prices and also third-quarter results of large-cap companies like Reliance Industries, HCL Tech, ITC will dictate trend of the market in near term," said Vivek Gupta, CMT ? Director Research, CapitalVia Global Research Limited.

Major companies slated to announce their December-quarter results this week include Kotak Mahindra Bank, Wipro, Reliance Industries, Axis Bank, HCL Technologies, UltraTech Cement, Idea Cellular, Cairn India and ITC.

Experts said that apart from earning growth, management outlook for the coming quarter will set the tone for the market.

"On the earnings front, till date there's nothing really in it so far to exude confidence," said Vijay Singhania, Founder-Director, Trade Smart Online.

"We believe last week's negative sentiments will dominate the market. Of course, all eyes will be on China as it is set to announce its fourth-quarter and full-year 2015 GDP data on Tuesday," he added.

On a weekly basis, the BSE Sensex fell by 479.29 points, or 1.92 percent, to 24,455.04, its weakest closing since May 30, 2014, while the broader NSE Nifty lost 163.55 points, or 2.15 percent, to 7,437.80.

Experts said that in the short-term, the Indian stock market will continue to take cues from its global peers. Apart from this, with the earnings season picking up further steam, stock specific volatility will be high.

Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.

NEWS ON ONE CLICK