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D-Street Week Ahead: Corporate earnings, Fed minutes and crude oil likely to influence market

D-Street Week Ahead: Corporate earnings, Fed minutes and crude oil likely to influence market

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By Sandeep Singh   IST (Published)

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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.
IndexWeekly change (%)
Nifty Midcap 1000.5
Nifty Smallcap 1001
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. 
Technical view
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:
DOMESTIC CUES
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.
GLOBAL CUES
DateUSEuropeAsia
July 4ECB Vice-President Luis de Guindos to speak
July 5BoE Governor Andrew Bailey and Member Silvana Tenreyro to speak, services PMI surveys on the UK, Germany and the eurozone, UK car sales dataJapan and China services PMI surveys
July 6Minutes of the last FOMC meeting, Fed official John Williams to speakBoE Chief Economist Huw Pill and Deputy Governor for Financial Stability Jon Cunliffe to speak, eurozone retail sales
July 7Jobless claims data, crude oil stockpiles, Fed officials Christopher Waller and James Bullard to speakECB Supervisory Board Chair Andrea Enria and Chief Economist Philip Lane to speak, BoE Member Catherine L Mann to speakJapan retail sales and consumer confidence data
July 8Unemployment rate, John Williams to speakECB President Christine Lagarde to speakJapan unemployment data and inflation data
July 9China inflation data
FII activity
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.
Corporate action
CompanyEx datePurposeRecord date
EKI Energy ServicesJuly 4Bonus issue 3:1July 5
JSW SteelJuly 4Final dividend Rs 17.35-
Petronet LNGJuly 4Final dividend Rs 4.5July 5
Pioneer EmbroideriesJuly 4Dividend Re 0.3July 5
Punjab & Sind BankJuly 4Dividend Re 0.31-
Yasho IndustriesJuly 4Final dividend Re 0.5July 5
Elegant Marbles & Grani IndustriesJuly 5Final dividend Rs 2.75-
MindtreeJuly 5Final dividend Rs 27-
MphasisJuly 5Dividend Rs 46-
Wheels IndiaJuly 5Dividend Rs 8.3-
Century TextilesJuly 6Dividend Rs 4-
Ponni Sugars (Erode)July 6Dividend Rs 5.5-
Astrazeneca PharmaJuly 7Final dividend Rs 8July 8
Axis BankJuly 7Final dividend Re 1July 8
Bank of IndiaJuly 7Final dividend Rs 2July 8
Crompton Greaves Consumer ElectricalsJuly 7Final dividend Rs 2.5-
DCM ShriramJuly 7Dividend Rs 4.9July 8
Glaxismithkline PharmaJuly 7Special dividend Rs 60July 8
Glaxismithkline PharmaJuly 7Dividend Rs 30July 8
Greenlam IndustriesJuly 7Final dividend Rs 1.2July 8
Heranba IndustriesJuly 7Final dividend Rs 2-
Hitech CorpJuly 7Dividend Rs 1July 8
Indian Card ClothingJuly 7Interim dividend Rs 25July 8
JM FinancialJuly 7Final dividend Re 1.15-
L&T Technology ServicesJuly 7Final dividend Rs 15-
Mayur UniquotersJuly 7Final dividend Rs 2-
Minda IndustriesJuly 7Bonus issue 1:1July 8
Minda IndustriesJuly 7Final dividend Re 1July 8
Navin Fluorine InternationalJuly 7Final dividend Rs 6July 8
NilkamalJuly 7Final dividend Rs 15-
Oberoi RealtyJuly 7Final dividend Rs 3July 8
Rossari BiotechJuly 7Final dividend Re 0.5-
Solitaire Machine ToolsJuly 7Final dividend Re 1.2-
Star Housing FinanceJuly 7Final dividend Re 0.2-
Sundaram FinanceJuly 7Final dividend Rs 10-
Vishnu ChemJuly 7Final dividend Rs 2-
ZF Commercial Vehicle Control Systems IndiaJuly 7Dividend Rs 12-
Ingersoll RandJuly 8Dividend Rs 20-
Jubilant FoodWorksJuly 8Final dividend Re 1.2July 11
Lumax IndustriesJuly 8Final dividend Rs 13.5-
Lumax Auto TechJuly 8Final dividend Rs 3.5-
Maharashtra CorpJuly 8Right issueJuly 8
Onward TechJuly 8Final dividend Rs 3-
Pressman AdvertisingJuly 8Final dividend Re 1July 11
Titan CompanyJuly 8Dividend Rs 7.5-
Torrent PharmaJuly 8Bonus issue 1:1July 11
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