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The Week Ahead: Q2 earnings, macro data likely to impact market

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Analysts await the first batch of financial results for the july-Sept period after TCS kicked off the earnings season last week. Macroeconomic data such as inflation and factory output will also be in focus. 

The Week Ahead: Q2 earnings, macro data likely to impact market
Indian shares made a comeback with benchmark indices gaining more than two percent last week led by IT, auto and select heavyweight stocks. The Nifty50 index registered a new record high as the IT gauge logged its best week in six months.
For the week, the 50-scrip benchmark gained 363.15 points or 2.1 percent to settle at a record 17,895.2, and the Sensex index added 1,293.5 points (2.2 percent) to 60,059.
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Dalal Street week ahead
Now all eyes will be on the first batch of corporate financial results as Tata Consultancy Services (TCS) kicked off the earnings season last week. Macroeconomic data such as inflation and factory output will also be in focus.
"The IT sector will be in key focus as they are scheduled to release earnings in the coming days... Globally, investors the US jobs data on their radar to determine the course of the global markets in the coming week," said Vinod Nair, Head of Research at Geojit Financial Services.
Traders can expect rangebound action in the market in the four-session week. The Indian financial market will remain shut on Friday for the Dussehra holiday.
"IT stocks in India have been witnessing a strong uptrend over the past couple of weeks driven by expectations of a ramp-up in deals and strong hiring which might continue the growth momentum. Further, rupee depreciation has also played its part in keeping the IT stocks in the green," brokerage Samco said in a note. 
Technical outlook
The 50-scrip index has managed to bounce from support at around 17,450 after forming a doji candle, according to Samco.
Although Nifty is still trading overbought, it hasn't seen any significant correction. Even major global indices have started finding support after a mild price and time correction, according to the brokerage.
"Traders are advised to maintain a bullish bias going ahead but should remain vigilant of any break of newly found support in global indices. Any break may trigger weakness in Nifty, which has support at 17,500 and resistance at 18,050," it said.
Here are the key factors and events that are likely to influence Dalal Street in the week starting October 11:
DOMESTIC CUES
Q2 Earnings
Infosys will report its earnings for the July-September period on Wednesday, and both Wipro and HCL Technologies the next day. HDFC Bank will post its results on Saturday. DMart will also release its Q2 numbers on the same day.
Mindtree, Cyient and Indiabulls Real Estate will also post their quarterly numbers during the week.
Macroeconomic Data
Data on industrial production in the country in August and consumer inflation in September will be out after market hours on Tuesday. Wholesale inflation data for September will be released during market hours on Thursday.
On Friday, industry body SIAM will release data by various automakers last month.
FII flow
Fund flow will be in focus as foreign portfolio investors (FPI) remain bullish on Indian equities. They have net purchased shares worth Rs 1,530 crore ($208 million ) so far this month. In the past two months, FPIs have brought in Rs 15,237 crore ($2.1 billion) into the Indian equity market, exchange data showed.
GLOBAL CUES
China's trade data for September is due on Wednesday.
US inflation data as well as minutes of the FOMC's last scheduled review are due on the same day.
CORPORATE ACTION
Security NameEx DatePurposeRecord Date
ASIAN GRANITO INDIA LTD.11-Oct-21Final Dividend - Rs. - 0.500012-Oct-21
Gensol Engineering Ltd11-Oct-21Bonus issue 1:312-Oct-21
MAN INFRACONSTRUCTION LTD.13-Oct-21Interim Dividend - Rs. - 1.260014-Oct-21
Advitiya Trade India Ltd13-Oct-21Bonus issue 4410014-Oct-21
B.N.RATHI SECURITIES LTD.13-Oct-21E.G.M.-
Dhanvarsha Finvest Ltd13-Oct-21Stock Split From Rs.10/- to Rs.2/-14-Oct-21
India Infrastructure Trust13-Oct-21Income Distribution (InvIT)15-Oct-21
JTL INFRA LTD.13-Oct-21Stock Split From Rs.10/- to Rs.2/-16-Oct-21
Lancer Container Lines Ltd13-Oct-21Bonus issue 2:114-Oct-21
SRF LTD.13-Oct-21Bonus issue 4:114-Oct-21
NORBEN TEA & EXPORTS LTD.14-Oct-21E.G.M.-
Seven Hill Industries Limited14-Oct-21Stock Split From Rs.10/- to Rs.1/-18-Oct-21
Sword-Edge Commercials Limited14-Oct-21Stock Split From Rs.10/- to Rs.1/-18-Oct-21
TATA CONSULTANCY SERVICES LTD.14-Oct-21Interim Dividend - Rs. - 7.000019-Oct-21
Zeal Aqua Ltd14-Oct-21Stock Split From Rs.10/- to Rs.1/-19-Oct-21
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