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Equity indices continue to be driven by earnings

An escalation in Sino-US trade conflict and RBI rate hike played spoilsport as the BSE index saw sell-off on both Wednesday and Thursday.


PTI Last Updated at 05-08-2018 11:57:25 IST India
Equity indices continue to be driven by earnings

Equity indices would continue to be driven by earnings, with blue-chips such as Mahindra & Mahindra and PNB slated to come out with their quarterly report cards this week, say experts.

"Gradual tightening by RBI with a focus on maintaining a balance between inflation and growth is a welcome sign. On the other hand, moderation in crude price in expectation of oversupply and better quarter results are expected to extend the current positive momentum," said Vinod Nair, Head of Research, Geojit Financial Services.

"This week promises to be action-packed as corporate earnings will be in the flow. We will continue to see stock-specific approach," said Gaurav Jain, Director, Hem Securities.

Major companies scheduled to announce their earnings this week include Adani Ports, Adani Power, CIL, M&M, PNB, BPCL, Cipla, Lupin, Gail, Hindalco, and NHPC.

Monsoon would also play a key role in deciding market trend, after the weather office said rains will be normal in August and September, boosting growth prospects of the rural economy.

"The global markets are seeing mixed cues on the back of escalated trade war while another rate hike indication by Fed has further pulled some string in Asian markets," said Mustafa Nadeem, CEO, Epic Research.

Over the last week, the Sensex recorded a rise of 219.31 points, or 0.59 percent to end at 37,556.16.

An escalation in Sino-US trade conflict and RBI rate hike played spoilsport as the BSE index saw sell-off on both Wednesday and Thursday.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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