Corporate earnings and macroeconomic data from the domestic as well as global markets will influence Dalal Street this week.
Financial results, macroeconomic data and foreign fund flows will be at the centre stage on Dalal Street this week, after Tata Consultancy Services (TCS) — India's largest software services exporter — kicked off the corporate earnings season last week.
Globally, any wild moves in crude oil prices, a key inflation reading from the world's largest economy and commentary by major central bankers will be tracked closely for clues on the pace of hikes in COVID-era interest rates and its impact on growth.
The week that was
Last week, Indian equity benchmarks surged 3 percent backed by gains across sectors in their best weekly performance in nearly two months. It was the third back-to-back weekly gain for both headline indices.
A total of 43 stocks in the Nifty50 basket rose for the week.
Tata Motors, Britannia, Bajaj Finserv, PowerGrid and Tata Consumer — rising 6-7 percent — were also among the top blue-chip gainers.
All sectors participated in the upmove, with PSU banking, consumer, and banking stocks at the forefront.
Broader markets also mirrored the gain in main indices.
|Index||Weekly change (%)|
|Nifty Midcap 100||4|
|Nifty Smallcap 100||3|
The road ahead
The corporate earnings season is likely to remain on investors' radar for the next few weeks. Besides, macroeconomic data from the domestic as well as global markets will be tracked closely.
"The inflationary problem is not just restricted to the West. Indian inflation numbers back home will keep the market busy," said Apurva Sheth, Head of Market Perspectives at Samco Securities.
"Management commentary on the future earnings growth trajectory will be of interest to D-Street participants... Investors are advised to be careful and cautious in their decisions," he said.
One can expect a further rebound in the Nifty50 index this week, according to Ajit Mishra, VP-Research at Religare Broking.
"The index could test the 16,500 zone while the 15,650-15,900 band would provide a cushion in case of a dip," he said.
Mishra prefers auto and FMCG pockets and suggests nibbling selectively in the banking and financial spaces. He sees some rebound in energy and metal stocks but is of the view that the overall structure of the market remains weak.
Here are the key factors and events that are likely to influence Dalal Street in the week beginning July 11:
|July 11||Spandana Sphoorty|
|July 12||HCL Tech, Delta Corp, Anand Rathi Wealth|
|July 13||Mindtree, Tata Metaliks|
|July 14||ACC, Larsen & Toubro Infotech, Tata Elxsi, Tata Steel Long Products, Angel One|
|July 15||JSPL, L&T Technology Services, Federal Bank|
|July 16||HDFC Bank, ICICI Prudential Life Insurance|
Separate data sets on consumer inflation and industrial production in the country are due on Tuesday.
Data on wholesale inflation will be released on Thursday.
Investors will continue to monitor the flow of institutional money closely.
Foreign institutional investors (FIIs) net sold Indian shares worth Rs 2,218.4 crore last week, according to provisional exchange data. Domestic institutional investors (DIIs), on the other hand, made net purchases of Rs 3,910.3 crore.
|Company||Ex date||Purpose||Record date|
|Dr Reddy's||July 11||Final dividend Rs 30||-|
|GMM Pfaudler||July 11||Bonus issue 2:1||July 12|
|Persistent Systems||July 11||Final dividend Rs 11||-|
|Avadh Sugar & Energy||July 12||Dividend Rs 10||-|
|REC||July 12||Final dividend Rs 4.8||July 13|
|Seshasayee Paper & Boards||July 12||Final dividend Rs 2.5||-|
|Steel Exchange||July 12||Stock split from Rs 10 to Re 1||July 13|
|Aditya Birla Sun Life AMC||July 13||Final dividend Rs 5.85||July 14|
|Magadh Sugar & Energy||July 13||Dividend Rs 6.5||-|
|Shree Cement||July 13||Final dividend Rs 45||July 14|
|VST Industries||July 13||Dividend Rs 140||-|
|Adani Enterprises||July 14||Final dividend Re 1||July 15|
|Adani Ports||July 14||Final dividend Rs 5||July 15|
|Apex Frozen Foods||July 14||Final dividend Rs 2.5||-|
|Arihant Capital||July 14||Final dividend Re 0.15||-|
|Ashok Leyland||July 14||Dividend Re 1||-|
|Adani Total Gas||July 14||Final dividend Re 0.25||July 15|
|Atul||July 14||Dividend Rs 25||-|
|Bharat Forge||July 14||Final dividend Rs 5.5||July 15|
|Bosch||July 14||Special dividend Rs 100||-|
|Bosch||July 14||Final dividend Rs 110||-|
|Birlasoft||July 14||Share buyback||July 15|
|Birlasoft||July 14||Final dividend Rs 3||July 15|
|Coromandel International||July 14||Final dividend Rs 6||-|
|Lupin||July 14||Final dividend Rs 4||July 15|
|M&M||July 14||Dividend Rs 11.55||-|
|Piramal Enterprises||July 14||Final dividend Rs 33||July 15|
|Route Mobile||July 14||Final dividend Rs 2||July 15|
|RPG Life Sciences||July 14||Final dividend Rs 9.6||July 15|
|Sasken Tech||July 14||Final dividend Rs 13||-|
|TCS||July 14||Interim dividend Rs 8||July 16|
|Zensar Tech||July 14||Final dividend Rs 3.5||July 15|
|Zydus Wellness||July 14||Final dividend Rs 5||July 15|
|UTI AMC||July 15||Final dividend Rs 21||-|
|July 11||Fed official John Williams to speak|
|July 12||Fed official Tom Barkin to speak||Eurozone economic sentiment data, BoE Governor Andrew Bailey to speak|
|July 13||Inflation data, crude oil stockpiles data, Fed Beige Book||UK GDP data, UK manufacturing output data, Germany inflation data, France inflation data, Eurozone industrial production data||China trade data|
|July 14||Jobless claims data, Fed official Christopher Waller to speak||Japan industrial production data|
|July 15||Retail sales data, industrial production data, Fed official Raphael Bostic to speak||Germany wholesale inflation data||China GDP, industrial production, retail sales and unemployment data; Hong Kong business confidence data|
First Published: IST