Business Today
Loading...

Global cues, COVID-19 trends, TCS Q4 earnings major drivers for markets this week: Analysts

Domestic equity indices advanced for the third straight day to close near four-month highs on Friday. During the last week, the BSE Sensex rallied 850.15 points or 2.41 per cent

twitter-logoPTI | July 5, 2020 | Updated 23:59 IST
Global cues, COVID-19 trends, TCS Q4 earnings major drivers for markets this week: Analysts
Investors will also monitor movement of rupee and crude oil as well as progress of monsoon

Trading sentiment in the equity markets this week will be guided by global cues, COVID-19 trends and quarterly earnings by market heavyweight TCS, analysts said.

Investors will also monitor movement of rupee and crude oil as well as progress of monsoon, they added.

"Participants will be eyeing key macro indicators like IIP data. Besides, the progress of monsoon and developments on COVID front will also be in focus.

"On the earnings front, IT major TCS, will announce its results on July 9," said Ajit Mishra, VP Research, Religare Broking.

Domestic equity indices advanced for the third straight day to close near four-month highs on Friday. During the last week, the BSE Sensex rallied 850.15 points or 2.41 per cent.

"Indian equity markets ended with strong gains last week on the back of better-than-expected economic data across countries and reports of a potential COVID-19 vaccine.

"However, concerns over rising coronavirus cases and chances of second round of lockdown along with trade tensions between US-China continue to linger," Khemka added.

With 22,771 people testing positive for coronavirus in a single day, the highest so far, India's COVID-19 tally climbed to 6,48,315 on Saturday, while the death toll rose to 18,655 with 442 new fatalities, according to the Union Health Ministry data.

"It is expected that a definitive movement in markets may be visible once India Inc unveils its Q1 FY21 earnings performance with its first-hand analysis of ground level reality," said Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote.

According to Sanjeev Zarbade, VP PCG Research, Kotak Securities, "Risks to the markets emanate from further spiraling of infections and flare-up on Indo-China border."

'America loves India!': Donald Trump thanks PM Modi for Independence Day wish

WHO discontinues HCW, HIV drugs in Covid-19 trials after failure to reduce deaths

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close