Updated April 14th, 2024 at 10:42 IST

Stock market to navigate geopolitical events, earnings reports

Stock markets will be closed on Wednesday for Ram Navami, and analysts are closely watching several key factors that could impact market sentiment.

Reported by: Business Desk
Indian stock market | Image:BSE, NSE
Advertisement

Stock market influenced: The stock market is expected to be influenced by geopolitical events, macroeconomic data, and corporate earnings in the upcoming holiday-shortened week, according to analysts.

Stock markets will be closed on Wednesday for Ram Navami, and analysts are closely watching several key factors that could impact market sentiment. Concerns about a potential conflict between Iran and Israel are emerging, and any escalation could lead to panic selling and increased volatility in global equity markets. Additionally, movements in crude oil prices, which are often affected by geopolitical events, will be closely monitored.

Advertisement

Earnings reports from major companies, including Infosys, Bajaj Auto, and Wipro, are expected later in the week and will be closely watched by investors. On the macroeconomic front, China's GDP data, US retail sales figures, and movements in US bond yields and the dollar index will also influence market sentiment.

Shares of TCS will be in focus on Monday following the company's January-March quarterly earnings report. The IT services major reported a 9 per cent growth in net profit at Rs 12,434 crore in the fourth quarter of FY24, driven by strong domestic business performance.

Advertisement

Looking ahead, major global and domestic economic data, including India's WPI inflation data and WPI manufacturing data, China's GDP growth rate, and US manufacturing production and initial jobless claims, will guide the market's outlook.

Retail inflation in India declined to a five-month low of 4.85 per cent in March, mainly due to cooling food prices, approaching the Reserve Bank's target of 4 per cent. Industrial production growth also accelerated to a four-month high of 5.7 per cent in February 2024, driven by strong performance in the mining sector.

Advertisement

Despite the firm footing of the Indian economy, negative news from the global front could impact Indian equities' upward momentum, according to analysts. Last week, the BSE benchmark Sensex dipped marginally after a record-breaking rally, settling at an all-time high of 75,038.15 on Wednesday.

(with PTI inputs

Advertisement

Published April 14th, 2024 at 10:42 IST