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Earnings, macro data, global cues key for stock markets this week

Monday, July 09, 2018

Sentiment in the stock market this week will be driven by a host of key triggers, including macroeconomic data, June quarter earnings and global trade relations, say experts.

"Focus will be on inflation number, IIP data and monsoon. Globally, the focus will be on trade issues," said Sanjeev Zarbade, Vice President – Research, Kotak Securities.

IT majors TCS and Infosys are scheduled to kick-start the earnings season with announcement of their June quarter results next week.

Market experts said developments on the trade front will also be monitored closely. "We believe the trade-wars are a developing story and will take some time before we hear the final word," said VK Sharma, Head Private Client Group and Capital Market Strategy, HDFC Securities.

"CPI inflation and IIP data will be keenly watched," said Vinod Nair, Head of Research, Geojit Financial Services.

Over the last week, the Sensex rose by 234.38 points, or 0.66% to settle at 35,657.86.

"Fundamentally, lot of events are lined up with critical importance and eyes will be on inflation data and IIP numbers," said Mustafa Nadeem, CEO, Epic Research.

“In the coming week, the broader market will guided global clues as there seems to be no relief over concerns of global trade war which could ruin the global growth outlook. US President Donald Trump planned to go ahead with tariffs on USD34 bn of Chinese goods at midnight on Friday. China would also make a retaliatory move to impose tariffs on the US. However, stock specific movement will be dicated by upcoming June 2018 (Q1FY19) earnings, macroeconomic data and progress of monsoon,” said Gaurav Jain, Director, Hem Securities.

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