From Business Standard: 2024-07-07 00:43:38

Equity markets are set to take cues from global trends and foreign investor activity this week, with the first quarter earnings reports from IT giants TCS and HCL Technologies shaping investor sentiments. The BSE benchmark Sensex hit an all-time high of 80,392.64 on July 4, while the Nifty also reached a record peak of 24,401 on the same day. Analysts are closely watching US Federal Reserve Chair Jerome Powell’s testimony scheduled for July 9, and tracking key data releases such as India’s CPI and industrial production numbers, as well as US core CPI inflation and jobless claims. Last week, the BSE benchmark soared 1.21% and the Nifty climbed 1.30%, setting the stage for a potentially optimistic earnings season ahead. Investors will be keenly observing management commentary for insights into the sector’s outlook, as well as stock and sector-specific actions in response to Q1 FY25 earnings reports and macroeconomic data releases. Market direction will be heavily influenced by upcoming earnings reports, indicating a week of potential movement in the equity markets.



Read more at Business Standard: Global trends, earnings from TCS, HCLTech to guide mkts this week: Analysts | News on Markets