Quarterly earnings from blue chips such as Hindustan Unilever and Kotak Mahindra Bank, inflation data, trend in crude oil prices and global cues will be key determinants for the stock market movement this week, say experts.
"Focus would continue to be on earnings of companies. On the global side, markets would be hoping for easing of trade related issues between the US and China.
"Crude prices have corrected a bit and further softening in prices would be positive for global markets," said Sanjeev Zarbade, Vice President – Research, Kotak Securities.
Major earnings this week are from Hindustan Unilever, Kotak Mahindra Bank, Bajaj Auto and Wipro.
"The result season has just begun. Currently, market is in wait and watch mode," said Jimeet Modi, Founder & CEO, SAMCO Securities. Shares of Infosys will be in focus on Monday as on Friday the company reported 3.7% growth in consolidated net profit to Rs 3,612 crore for the June quarter. The company's results were announced post market hours on Friday.
"On the global economic data front, China will announce its second quarter GDP this week," said VK Sharma, Head Private Client Group & Capital Market Strategy, HDFC Securities. Over the last week, the Sensex recorded a significant rise of 883.77 points, or 2.48%, to end at 36,541.63.
"Moderating trend in oil prices and yield is providing signs of stability in the market momentum," said Vinod Nair, Head of Research, Geojit Financial Services.