Financial results will be in focus with TCS slated to report its April-June earnings this week. Minutes of the Fed's last policy meeting and key speeches by central bankers around the globe will be on investors' radar.
Corporate earnings, foreign fund flows, and minutes of the Fed's last policy review and commentary by central bankers will take centre-stage on Dalal Street this week. Tata Consultancy Services (TCS) — India's largest software services exporter — will kick off the earnings season by the end of the week.
The week that was
Indian equity benchmarks managed to clock weekly gains for a second straight week, led by gains in IT, FMCG, auto and metal shares though losses in pockets such as financial and oil & gas limited the upside.
A total of 35 stocks in the Nifty50 basket saw weekly gains.
Bharat Petroleum, Britannia, Mahindra & Mahindra, Nestle and Tech Mahindra — rising around 3-4 percent — were also among the top gainers.
Apollo Hospitals, Bajaj Finserv, Kotak Mahindra Bank, ICICI Bank and Tata Consumer — falling 1-3 percent — were the top laggards among blue-chip stocks.
Broader markets also saw weekly gains, reflecting the strength in headline indices.
|Index||Weekly change (%)|
|Nifty Midcap 100||0.5|
|Nifty Smallcap 100||1|
The road ahead
Market participants will closely track the financial results of TCS for any change in guidance amid fears of a global slowdown, said Ajit Mishra, VP-Research at Religare Broking.
"The performance of global indices, changes in crude oil prices and updates on the Russia-Ukraine war will be in focus," he said.
The Nifty50's short-term trend remains bearish even as it has outperformed its global peers, according to Yesha Shah, Head of Equity Research at Samco Securities.
She views 15,930 as a critical resistance level that needs to be taken out for the confirmation of a short-term uptrend.
"As long as the Nifty does not break above this level, traders should maintain a neutral to a faintly negative outlook. Negative global sentiments are likely to keep the market under strain till then," Shah added.
Mishra expects a sideways-to-negative bias to continue till the Nifty50 crosses 15,900 decisively towards the 16,200 zone. He sees support in the 15,100-15,350 band.
Here are the key factors and events that are likely to influence Dalal Street in the week beginning July 4:
TCS will report its financial results for the April-June period on Friday. Avenue Supermarts (DMart) will post its earnings the next day.
The outcome of a PMI survey on services in the country is due on July 5.
|July 4||ECB Vice-President Luis de Guindos to speak|
|July 5||BoE Governor Andrew Bailey and Member Silvana Tenreyro to speak, services PMI surveys on the UK, Germany and the eurozone, UK car sales data||Japan and China services PMI surveys|
|July 6||Minutes of the last FOMC meeting, Fed official John Williams to speak||BoE Chief Economist Huw Pill and Deputy Governor for Financial Stability Jon Cunliffe to speak, eurozone retail sales|
|July 7||Jobless claims data, crude oil stockpiles, Fed officials Christopher Waller and James Bullard to speak||ECB Supervisory Board Chair Andrea Enria and Chief Economist Philip Lane to speak, BoE Member Catherine L Mann to speak||Japan retail sales and consumer confidence data|
|July 8||Unemployment rate, John Williams to speak||ECB President Christine Lagarde to speak||Japan unemployment data and inflation data|
|July 9||China inflation data|
Investors will continue to monitor institutional money flow closely. Foreign institutional investors net sold Indian shares worth Rs 3.8 lakh crore in the nine months to June 2022 — a period in which domestic institutional investors made net purchases to the tune of Rs 3 lakh crore —, according to exchange data.
|Company||Ex date||Purpose||Record date|
|EKI Energy Services||July 4||Bonus issue 3:1||July 5|
|JSW Steel||July 4||Final dividend Rs 17.35||-|
|Petronet LNG||July 4||Final dividend Rs 4.5||July 5|
|Pioneer Embroideries||July 4||Dividend Re 0.3||July 5|
|Punjab & Sind Bank||July 4||Dividend Re 0.31||-|
|Yasho Industries||July 4||Final dividend Re 0.5||July 5|
|Elegant Marbles & Grani Industries||July 5||Final dividend Rs 2.75||-|
|Mindtree||July 5||Final dividend Rs 27||-|
|Mphasis||July 5||Dividend Rs 46||-|
|Wheels India||July 5||Dividend Rs 8.3||-|
|Century Textiles||July 6||Dividend Rs 4||-|
|Ponni Sugars (Erode)||July 6||Dividend Rs 5.5||-|
|Astrazeneca Pharma||July 7||Final dividend Rs 8||July 8|
|Axis Bank||July 7||Final dividend Re 1||July 8|
|Bank of India||July 7||Final dividend Rs 2||July 8|
|Crompton Greaves Consumer Electricals||July 7||Final dividend Rs 2.5||-|
|DCM Shriram||July 7||Dividend Rs 4.9||July 8|
|Glaxismithkline Pharma||July 7||Special dividend Rs 60||July 8|
|Glaxismithkline Pharma||July 7||Dividend Rs 30||July 8|
|Greenlam Industries||July 7||Final dividend Rs 1.2||July 8|
|Heranba Industries||July 7||Final dividend Rs 2||-|
|Hitech Corp||July 7||Dividend Rs 1||July 8|
|Indian Card Clothing||July 7||Interim dividend Rs 25||July 8|
|JM Financial||July 7||Final dividend Re 1.15||-|
|L&T Technology Services||July 7||Final dividend Rs 15||-|
|Mayur Uniquoters||July 7||Final dividend Rs 2||-|
|Minda Industries||July 7||Bonus issue 1:1||July 8|
|Minda Industries||July 7||Final dividend Re 1||July 8|
|Navin Fluorine International||July 7||Final dividend Rs 6||July 8|
|Nilkamal||July 7||Final dividend Rs 15||-|
|Oberoi Realty||July 7||Final dividend Rs 3||July 8|
|Rossari Biotech||July 7||Final dividend Re 0.5||-|
|Solitaire Machine Tools||July 7||Final dividend Re 1.2||-|
|Star Housing Finance||July 7||Final dividend Re 0.2||-|
|Sundaram Finance||July 7||Final dividend Rs 10||-|
|Vishnu Chem||July 7||Final dividend Rs 2||-|
|ZF Commercial Vehicle Control Systems India||July 7||Dividend Rs 12||-|
|Ingersoll Rand||July 8||Dividend Rs 20||-|
|Jubilant FoodWorks||July 8||Final dividend Re 1.2||July 11|
|Lumax Industries||July 8||Final dividend Rs 13.5||-|
|Lumax Auto Tech||July 8||Final dividend Rs 3.5||-|
|Maharashtra Corp||July 8||Right issue||July 8|
|Onward Tech||July 8||Final dividend Rs 3||-|
|Pressman Advertising||July 8||Final dividend Re 1||July 11|
|Titan Company||July 8||Dividend Rs 7.5||-|
|Torrent Pharma||July 8||Bonus issue 1:1||July 11|