Market Ahead (3 Aug): Key Factors That Could Guide The Market This Week –
Indian benchmark indices indicate a flat opening on Aug 10 amid mixed global cues
This week June quarter earnings will be on focus for investors as over 700 companies including companies such as Aurobindo Pharma, Bank of Baroda, Titan, BPCL, MRF, and Hero MotoCorp are scheduled to announce their quarterly numbers. More stock specific action could be seen this week.
India’s overall coronal positive cases tally climbed to over 22.14 lakh on Sunday, and
the death toll from the virus infection rose to 44,466. India has recorded 62,117 coronavirus cases in just 24 hours.
On the macroeconomics front Investors will closely watch the inflation and industrial output numbers as RBI said in its policy review last week that inflation is expected to be at elevated levels during the second quarter. The industrial output for June will be released on Tuesday and the CPI inflation data for July will be released on Wednesday. Wholesale inflation data will be out on Friday.
On the global fronts, the increasing US-China tensions remain a key risk for the global as well as domestic markets. Over the weekend, The US Treasury imposed sanctions on 11 top officials from Hong Kong and mainland China in response to Beijing’s controversial national security law. On the other hand, the US is expected to finalize a second round of stimulus package this week, which can lift the market sentiment across the globe.
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