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Q3 Earnings, Inflation Data To Dictate Market Trend This Week

Monday, January 13, 2014
By A Business Reporter

Third quarter earnings from blue-chips such as TCS, RIL and Wipro and inflation data for December will dictate the near-term trend on the bourses, say experts. Besides, trend in investment by foreign institutional investors, global cues and movement of rupee against the US dollar will also influence the market trend.

"Inflation figures, global cues and third quarterly results for FY'14 will decide further market direction. In coming sessions, 6,130 shall be crucial deciding level in near term for the Nifty and the index is likely to witness further selling below this level," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Limited. Among major earnings this week are TCS, Axis Bank, Bajaj Auto, HCL Technologies, HDFC Bank, Reliance Industries, ITC and Wipro. Inflation based on consumer price index will come out on Monday, while that based on wholesale price index will be announced on Wednesday.

According to Bhupali Gursale, Economist, Angel Broking: "In view of continuing sluggishness in growth and with food inflation expected to moderate and bring some respite from elevated headline WPI and CPI inflation prints, we expect the RBI to hold monetary policy rates during its January 28 policy review," reports PTI

"This week, we have important results from Bajaj Auto, HCL Tech and Axis Bank. The inflation data is also slated to be released on January 14. On the global side, the monthly US jobs data for December would be watched out for.

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